DHX Media (DHXM) PT Lowered to $4.50 at CIBC

CIBC lowered its price target on DHX Media (NASDAQ: DHXM) to $4.50 (from $5.00) while maintaining a Neutral rating.

Analyst Robert Bek questions how much any potential buyer would pay while acknowledging the valuation could rise above his PT as management explores a possible sale as part of the strategic review process. The analyst comments that without the certainty of a positive outcome there is no compelling argument to own the stock at the current level and therefore remains on the sideline.

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