Chicken Soup for the Soul (CSSE) PT Raised to $52 at Canaccord Genuity
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Canaccord Genuity analyst Austin Moldow raised the price target on Chicken Soup for the Soul (NASDAQ: CSSE) to $52.00 (from $50.00) while maintaining a Buy rating.
The analyst commented, "CSSE reported strong Q1 results with revenue growing 75% y/y and both gross and EBITDA margins expanding. The company looks to be poised for rapid growth across several revenue streams after fully integrating its business. Near the end of last year, CSSE took full ownership of Crackle Plus from Sony in exchange for a stake in CSSE. Following that event, CSSE's production, distribution, and streaming entities are more closely aligned, sharing content operations, leveraging investments, and cross-selling partners at multiple levels of the business. We think the company is in a strong position to not just benefit from the tailwinds in streaming and AVOD, but to lead its peers by building a super higher-quality free streaming network, with robust advertiser capabilities and premium content."
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