Competitor campaigns are campaigns targeted at the names of competing companies or products. They are technically possible and common, but they carry three limitations that need to be considered. Legally: setting a competitor's brand name as a keyword is usually permissible, but using it in the ad text generally is not, and rules on comparative advertising also apply. Economically: the cost per click tends to be high and the conversion rate low, because the person is searching for a specific company, not a category. And strategically: the competitor will usually respond in kind, which raises costs for both sides without changing market shares. If you decide to run them, direct them to a page with a fair comparison rather than the homepage, and evaluate them separately from your other campaigns.
See also: Branded campaigns, Comparative advertising, Comparison content for AI.