Stingray Group wins price target raise at RBC

RBC Dominion Securities Drew McReynolds likes what he currently sees from Stingray Group (Stingray Group Stock Quote, Chart, News, Analysts, Financials TSX:RAY.A).

As reported by the Globe and Mail, the analyst April 29 maintained his “Outperform” rating on the stock while raising his 12-month price target on it from $11.00 to $12.00.

McReynolds says in a time of great uncertainty for most companies, the visibility of Stingray Group is actually pretty good.

“Against the backdrop of a continuously evolving global music and video landscape, we believe management continues to execute on identifying and capitalizing on new revenue growth opportunities that include retail media, FAST channels, SVOD and in-car entertainment,” he wrote. “While macro uncertainty could increasingly weigh on advertising and become a headwind, we believe these opportunities in aggregate have enhanced the company’s revenue visibility heading into F2026. We expect this improved growth and risk profile combined with mid-30-per-cent adjusted EBITDA margins and 60-per-cent EBITDA-to-FCF conversion to translate to steady NAV growth driving further upside in the shares.”

Shares of Stingray Group closed April 28 up $0.01 to $8.79.

Stingray Group is a Canadian media, music, and technology company headquartered in Montreal, Quebec. Founded in 2007 by Eric Boyko and Alexandre Taillefer, Stingray has grown into a global provider of audio and video content, business solutions, and advertising services.