Cineverse price target raised to $4.50 from $4 at Alliance Global Partners

Alliance Global Partners raised the firm’s price target on Cineverse (CNVS) to $4.50 from $4 and keeps a Buy rating on the shares. The company’s Terrifier 3 generated more than $36M in domestic box offices sales and remains in 2,762 theaters, the analyst tells investors in a research note. The firm increased its revenue estimate by $13M as a result of the better than expected ticket sales. It also believes Cineverse will monetize Terrifier 3 outside of box office sales..