Roth MKM lowered the firm’s price target on GameSquare (GAME) to $4 from $5 and keeps a Buy rating on the shares. The company’s Q3 results were “strong” with pro-forma revenue up 10%, gross margin up significantly and adjusted EBITDA loss continuing to improve, the analyst tells investors in a research note. The firm adds however that its new price target reflects an enterprise value to expected revenue multiple that is more in line with stocks that it views being comparable to GameSquare.
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