Nexxen price target lowered to $15 from $16 at Rosenblatt

Rosenblatt lowered the firm’s price target on Nexxen (NEXN) to $15 from $16 and keeps a Buy rating on the shares. Nexxen had a Q4 “guidance implosion” tied to disruption from a DSP relationship that the firm assumes to be Trade Desk (TTD), but the company sees other areas of strength picking up a lot of the slack next year, the analyst tells investors. The firm’s “take for now is that this is reasonable,” muting fallout to its estimates and price target, the analyst added.