Opera price target raised to $23 from $19 at TD Cowen

TD Cowen raised the firm’s price target on Opera to $23 from $19 and keeps an Outperform rating on the shares. The firm said its announcement of an annual recurring dividend heightens our confidence in Opera’s FY23 outlook and its commitment to return excess cash to shareholders. The dividend program is not only a prudent use of capital, but also serves as an incremental factor that increases the stock’s appeal, in our opinion.