Digital Turbine price target lowered to $9 from $12 at B. Riley

B. Riley analyst Daniel Day lowered the firm’s price target on Digital Turbine to $9 from $12 and keeps a Neutral rating on the shares. After last month’s earnings release reset near-term top and bottom line expectations significantly lower, the firm says that roughly 8x isolated EBITDA from application media, or ~$5.50/share, would be a point at which buyers would likely begin stepping in despite any near-term macro considerations, the analyst tells investors in a research note.