RBC Capital downgraded Enthusiast Gaming to Sector Perform from Outperform with a price target of C$0.30, down from C$1.50. The company’s Q4 results were below forecasts and the timeframe for turning adjusted EBITDA positive was pushed out, the analyst tells investors in a research note. The firm says the longer timeframe to profitability brings the balance sheet and liquidity into greater focus, making it “notably more cautious on the name.”
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