Nexxen price target raised to $12 from $9.50 at Needham

Needham raised the firm’s price target on Nexxen (NEXN) to $12 from $9.50 and keeps a Buy rating on the shares. The firm is positive on the company’s positioning in the AdTech universe, which includes expectations that its Digital video and connected-TV ad revs will represent most of its revenue in 2024, the analyst tells investors in a research note. The firm is also rolling forward its discount cash flow model by a year while raising its FY26 revenue view on Nexxen to $416M from $412M.