CIBC Lowers Stingray Group (RAY.A) Price Target to C$9.00

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Stingray Group (TSE:RAY.A) had its price objective dropped by equities researchers at CIBC from C$11.00 to C$9.00 in a research note issued on Friday. The firm currently has an “average” rating on the stock. CIBC’s target price would suggest a potential upside of 32.94% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. TD Securities raised Stingray Group from a “hold” rating to a “buy” rating and raised their price target for the company from C$10.50 to C$11.00 in a report on Monday, October 15th. National Bank Financial cut their price target on Stingray Group from C$11.00 to C$9.00 and set an “outperform” rating for the company in a report on Thursday, January 3rd.

TSE RAY.A opened at C$6.77 on Friday. Stingray Group has a 12 month low of C$7.19 and a 12 month high of C$10.59.

About Stingray Group

Stingray Digital Group Inc is a business-to-business (B2B) music products, services and content provider. The Company broadcasts music and video content on various platforms, including digital television, satellite television, Internet Protocol television (IPTV), the Internet, mobile devices and game consoles.

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