Maxim lowered the firm’s price target on Dolphin Entertainment (DLPN) to $5 from $8 but keeps a Buy rating on the shares after its Q3 results saw revenue growth 25% y/y. The company is benefiting from cross-selling PR services among groups, venture investments, and strength in campaign performance at its subsidiaries, the analyst tells investors in a research note. Maxim adds however that it is reducing its 2025 Dolphin estimates based on pushing out the timing of a new movie documentary with joint venture partner IMAX (IMAX).
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