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Fly News Breaks for September 9, 2019
Sep 9, 2019 | 08:29 EDT
Ladenburg Thalmann analyst Jon Hickman downgraded LiveXLive Media to Neutral from Buy and cut his price target for the shares to $2.00 from $5.50. The company's sales from advertising and sponsorships has been nearly flat since the acquisition of Slacker in late 2017, Hickman tells investors in a research note. The analyst now believes that monetizing LiveXLive's viewership through advertising and sponsorships will require a "somewhat longer ramp." He anticipates the company will still be able to grow organically at an" impressive rate," just not as rapidly as he previously projected.
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