Apr. 24 at 7:02 PM
$CNVS What Wall Street Has Been Saying
🐂 Bullish Takeaways
Benchmark upgraded Cineverse to Buy from Speculative Buy and set a US
$12 price target, highlighting IndiCue as a deal that it describes as transformational for the business.
The firm argues that IndiCue helps shift Cineverse away from what it calls lumpy and unpredictable outcomes toward revenue that is more recurring and linked to advertising technology.
Benchmark uses a 20x EBITDA multiple, which it links to the tilt toward software and to its view that current estimates could prove conservative.
