Cardlytics Faces Challenges Amid Transition from Key Partner Chase, Leading to Sell Rating
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Cardlytics faces significant challenges as it transitions away from its key partner, Chase, leading to a Sell rating from Bank of America analyst Omar Dessouky, who set a price target of $1.50. Despite third-quarter results meeting expectations, the ongoing transition is expected to hinder revenue stabilization and growth. Management's efforts to diversify partnerships and introduce new products are overshadowed by uncertainty regarding Chase's loss, compounded by cautious fourth-quarter guidance. The lack of visible growth and a viable profit model makes Cardlytics a difficult investment in the AdTech sector.
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