Maxim lowered the firm’s price target on Super League Enterprise to $4 from $30, reflecting dilution and adjusting for the company’s recent 1 for 20 reverse stock split, but keeps a Buy rating on the shares after its Q3 pre-announcement last week. The company is in the early innings of pursuing a large long-term revenue opportunity that should drive significant operating leverage, but Super League Enterprise will likely require an additional capital raise within the next 3-6 months, the analyst tells investors in a research note.
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