LiveOne price target lowered to $3.50 from $5 at Alliance Global Partners

Alliance Global Partners analyst Brian Kinstlinger lowered the firm’s price target on LiveOne to $3.50 from $5 and keeps a Buy rating on the shares post the fiscal Q2 report. The results reflect significant cost-cutting and growth in the company’s audio business, Kinstlinger tells investors in a research note. Podcasting demand remains solid and LiveOne continues to add more content that should drive further growth, says the analyst.