DA Davidson lowered the firm’s price target on Chicken Soup for the Soul to $3 from $37 but keeps a Buy rating on the shares. The change in the firm’s price target is almost entirely due to increasing the discount rate assumption to 33% from 14%, while its cash flow projections are, for the most part, the same as they were beforehand, the analyst tells investors in a research note. DA Davidson also remains bullish on Chicken Soup for the Soul’s Redbox acquisition, which creates the value leader in the category as consumers are able to watch video content with advertisements, rent titles at kiosks, and buy and rent them via transaction video on demand.
Published first on TheFly
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