LiveOne price target lowered to $2 from $2.25 at Alliance Global Partners

Alliance Global Partners lowered the firm’s price target on LiveOne (LVO) to $2 from $2.25 and keeps a Buy rating on the shares. Conversion of Tesla ad-supported digital radio users to paid subscribers is a key to stronger fundamentals, the firm contended. Investment in new content is driving podcast growth, but margin expansion is the key to unlocking shareholder value, Alliance Global Partners told investors in a research note. The firm added that a higher valuation would require a stronger gross margin and more evidence of execution in driving paid subscribers.