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Fly News Breaks for December 20, 2019
Dec 20, 2019 | 08:18 EDT
DA Davidson analyst Tom Forte initiated coverage of LiveXLive Media with a Buy rating and $6.50 price target. The analyst believes the company can become one of the "premier digital media" companies in Music, positioning itself to reach its 5-year goal of 10M subscribers vs. 0.8M currently thanks to its live music content potential. Forte estimates LiveXLive Media annualized revenue growth of over 50% between FY20 and FY23 as well as its EBITDA margin expanding from negative 44% to positive 2.7%.
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