Exane Analyst Says Criteo Shares Could Double

Exane BNP Paribas analyst Charles Bedouelle initiated coverage on Criteo (NASDAQ: CRTO) with an Outperform rating and $52.00 price target.

In a bull case scenario, Bedouelle commented that the stock may double. Criteo's management announced positive earnings revisions. The analyst said that this is a "great time" to watch the company, with Criteo's revenue base 50 percent larger than at the time of the IPO.

Exane BNP Paribas forecasts 40 percent revenue CAGR to 2018. Bedouelle sees 60 percent EPS CAGR in the same period, utilizing the low-end of the margin forecast range.

Shares of Criteo closed at $34.25 on Tuesday. The stock gained as much as 5.05 percent Wednesday morning. Shares are currently up 4.9 percent.