Investment firm Craig-Hallum has recently initiated coverage on Nexxen (NEXN, Financial), awarding it a Buy rating and setting a price target of $15. The company is highlighted as a compelling risk/reward opportunity within the adtech sector, with the firm envisioning a potential path to $30 per share.
Craig-Hallum emphasizes Nexxen's attractive positioning, supported by its robust balance sheet, active share repurchase programs, and valuation under three times its EBITDA. The firm's confidence is bolstered by Nexxen's strong performance across six consecutive quarters, showcasing significant growth and margin improvement, especially within the connected TV (CTV) sector.
With Nexxen shares now exclusively listed on Nasdaq, Craig-Hallum anticipates further market share gains. The firm's analysis suggests that Nexxen, with its ongoing strategic execution, is poised to align with peers in the adtech industry in terms of valuation, offering substantial upside potential to investors in the upcoming quarters.
