LiveOne price target raised to $3 from $1.75 at Alliance Global Partners

Alliance Global Partners raised the firm’s price target on LiveOne (LVO) to $3 from $1.75 and keeps a Buy rating on the shares. On December 1, Tesla (TSLA) stopped paying for monthly digital radio subscriptions to LiveOne for each car owner in North America and the 350,000 paid subscribers from Tesla owners that the company reports were added during the first two weeks of December were more than the firm’s 325,000 estimate of total paid subscribers for the company in the March quarter, the analyst tells investors. The firm argues that the first two months through January will be “the most critical time to convert active users from Tesla” and then after that conversions will slow and become more normalized.