BTIG lowered the firm’s price target on Nexxen (NEXN) to $10 from $13 and keeps a Buy rating on the shares. The firm notes the company reported Q3 earnings before the market opened with the stock down about 19% by midday following a surprise FY2025 guidance reduction. The reduction was due to lower-than-expected activity from 3P DSPs, changing spending patterns from one specific DSP partner, and lower-than-expected spending from certain customers.
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