Benzinga | Sep 14, 2021 11:55AM EDT

Why Credit Suisse Sees 53% Upside In Taboola.com?

* Credit Suisse analyst Stephen Ju initiated coverage of Taboola.com Ltd (NASDAQ:TBLA) with an Outperform and $14 price target, implying a 53.5% upside.

* Ju says that the recent $800 million Connexity acquisition helps to onboard e-commerce operators and retailers to give them access to Taboola's inventory. It will speed up the company's share gains into $35 billion in potential media spend.

* As Taboola's core product is the ability to recommend content, there remains the potential for the company to experience a more significant proliferation of its services into other forms of media, including connected TVs for video.

* Price Action: TBLA shares traded higher by 2.71% at $9.08 on the last check Tuesday.