B. Riley lowered the firm’s price target on Chicken Soup for the Soul to $2 from $5 and keeps a Buy rating on the shares. The firm is lowering its 2023 and 2024 AEBITDA estimates after the company recently reported Q2 net revenue and AEBITDA that missed its estimates. While Chicken Soup management sees evidence of improving advertising demand heading into the upcoming election cycle, Redbox rental patterns have remained below expectations, the analyst tells investors.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on CSSE:
- Redfin upgraded, CSSE downgraded: Wall Street’s top analyst calls
- Craig-Hallum downgrades Chicken Soup for the Soul to Hold, cuts target to $1
- Chicken Soup for the Soul price target lowered to $1.25 from $3.50 at Needham
- Chicken Soup for the Soul downgraded to Hold from Buy at Craig-Hallum
- Chicken Soup for the Soul downgraded to Neutral from Buy at Alliance Global