NIP Group price target lowered to $6 from $12 at Maxim

Maxim analyst Jack Vander Aarde lowered the firm’s price target on NIP Group (NIPG) to $6 from $12 and keeps a Buy rating on the shares. The company has emerged as a diversified esports, entertainment, and technology company with in-house professional esports teams, talent management and events production, the analyst tells investors in a research note. Maxim adds however that while it remains positive on NIP’s recent strategic developments reinforcing its confidence in the business trajectory, its reduced price target reflects the company’s recent equity dilution.