Digital Turbine upgraded to Outperform at Macquarie after 50% drop 08:46 APPS Macquarie analyst Tim Nollen upgraded Digital Turbine to Outperform from Neutral with an unchanged price target of $80 after a roughly 50% stock drop since November 1. Industry tailwinds are "sound," he sees expansion into brand advertising offering upside to current estimates, and views the stock trading at an "attractive valuation" following the pullback, Nollen tells investors. While noting that advertising technology stocks as a group have sold off sharply following Q3 reporting season, Nollen remains positive on this sector due to solid fundamentals that he doesn't think will be much affected by rates or COVID-19 variants.
