Roth MKM initiated coverage of PodcastOne with a Buy rating and $4.50 price target. The analyst says the company is the only pure-play podcast U.S.-listed stock. The firm expects PodcastOne’s revenue to grow by 23%to 25% annually over the next several years, and that its adjusted EBITDA, which will be modestly positive in fiscal 2024, will approach $6M in fiscal 2027. Podcasting remains a growth business, says Roth.
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