Cineverse price target raised to $10 from $6 at Alliance Global

Alliance Global raised the firm’s price target on Cineverse (CNVS) to $10 from $6 and keeps a Buy rating on the shares. The company acquired Giant Worldwide and IndieCue that integrated with Matchpoint, shifting its focus from content creation to a full service technology platform, the analyst tells investors in a research note. The firm says the shift in Cineverse’s business results in a “more scaled and consistently profitable business, that is less capital intensive and offers more opportunity for growth.”