Enthusiast Gaming price target lowered to C$1.65 from C$3.75 at B. Riley

B. Riley lowered the firm’s price target on Enthusiast Gaming to C$1.65 from C$3.75 and keeps a Buy rating on the shares. The analyst trimmed projections given the Q3 miss. The company’s recent voluntary delisting of shares from the Nasdaq removes the additional liquidity in the stock that Enthusiast gained when commencing a dual listing in April 2021, but is also prudent expense management amid a challenging and uncertain macro backdrop, the analyst tells investors in a research note.