UPDATE: H.C. Wainwright Starts LiveXLive Media (LIVX) at Buy
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(Updated - October 19, 2018 7:27 AM EDT)
(updated to add analyst comment)
H.C. Wainwright analyst Kevin Dede initiates coverage on LiveXLive Media (NASDAQ: LIVX) with a Buy rating and a price target of $6.00.
The analyst comments "We are initiating coverage of LiveXLive with a Buy rating and a $6 price target on what we see as an underappreciated live music streaming service inherently differentiated from the established household-name music distribution brands, such as Apple, Spotify, and Pandora, in its live performance music concentration. Compelling, proven interactive features integrated into LiveXLive's offerings run over all devices and networks, and leverage: social networking, behind-the-scenes commentary, the opinions of successful, industry thought leaders and trend setters at a time when consumer spending on digital music has closed in on or surpassed that of spending on physical music, all of which—the broad and unique offering tied to live performance music—we think portends significant gains in LiveXLive usage."
Shares of LiveXLive Media closed at $2.98 yesterday.
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