B. Riley lowered the firm’s price target on Chicken Soup for the Soul to $2 from $5 and keeps a Buy rating on the shares. The firm is lowering its 2023 and 2024 AEBITDA estimates after the company recently reported Q2 net revenue and AEBITDA that missed its estimates. While Chicken Soup management sees evidence of improving advertising demand heading into the upcoming election cycle, Redbox rental patterns have remained below expectations, the analyst tells investors.
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