Cineverse price target lowered to $5.50 from $6.50 at Alliance Global Partners

Alliance Global Partners lowered the firm’s price target on Cineverse to $5.50 from $6.50 and keeps a Buy rating on the shares following the fiscal Q4 report. The key takeaway is that company’s new channel, The Dog Whisperer, has outperformed its other top channels by up to 40% on key platforms, the analyst tells investors in a research note. The firm, however, reduced the price target to account for lower adjusted EBITDA estimates and an expected 25% increase in the share count due to a recent earn-out paid in stock.