Benchmark analyst Daniel Kurnos lowered the firm’s price target on Cineverse (CNVS) to $9 from $10 and keeps a Speculative Buy rating on the shares. While the firm had been hopeful that the next slate of films that Cineverse had cheaply acquired to follow their new blueprint would aggregate to the same level of revenue and profitability as Terrifier 3, “the bar was just set too high,” the analyst tells investors. The firm is using the quarter as an opportunity to reset expectations for Cineverse this year, bringing its EBITDA forecast in by $5M, the analyst noted.
Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on CNVS:
Disclaimer & DisclosureReport an Issue
