Canaccord lowered the firm’s price target on Nexxen (NEXN) to $12 from $14 and keeps a Buy rating on the shares. The firm said Q3 results were broadly in line with expectations, with contribution ex-TAC and profitability modestly better than expected. Excluding the impact of political ad spend in year-ago comps, revenue and contribution ex-TAC both increased in the mid-teens, reflecting strength across desktop/mobile self-service and data partnerships, partially offset by tariff-related spending reductions for certain customers and more competitive CTV CPMs.
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