Nexxen upgraded to Outperform from Market Perform at Raymond James

Raymond James upgraded Nexxen (NEXN) to Outperform from Market Perform with a $15 price target The company is entering the “upward phase” of its turnaround, driven by its acquisition of Amobee in 2022, the analyst tells investors in a research note. The firm says the deal “has finally been digested and integrated,” and Nexxen is able to turn its focus to value-added aspects of its platform like data assets and its connected TV business, which is among the higher proportions of spend in its coverage.