Nexxen price target raised to $9 from $8 at RBC Capital

RBC Capital raised the firm’s price target on Nexxen to $9 from $8 and keeps an Outperform rating on the shares ahead of its results. The firm says it would expect Q2 results to show some upside as it remains focused on early signs of green shoots from the completed integration of Amobee, CTV partnerships, political traction through Discovery and data licensing, the analyst tells investors in a research note. RBC adds that on an adjusted-EBITDA basis, Nexxen is currently the least expensive name in the ad-tech peer group.