Loop Media price target lowered to $1.50 from $2.50 at B. Riley

B. Riley analyst Eric Wold lowered the firm’s price target on Loop Media to $1.50 from $2.50 and keeps a Buy rating on the shares. The firm expects a ramp in advertising revenues heading into the upcoming election cycle that will leverage the network and sees multiple opportunities to boost gross margins that could improve cash flows without impacting growth, the analyst tells investors in a research note. The firm sees upside value in the company’s DOOH network with the board evaluating strategic alternatives.