Stingray Group Inc: National Bank raised target to CAD $13.50 from C$13.00

Stingray Group Inc: National Bank raised target to CAD $13.50 from C$13.00

Stingray Group Inc. (RAY-A:CA) (STGYF)

National Bank Financial maintained its “Outperform” rating on Stingray Group Inc. and raised its 12 month target price to CAD $13.50 from CAD $13.00, reflecting growing confidence in the company’s revenue diversification and operational resilience.

Analysts noted that Stingray’s advertising and subscription segments continue to show strong performance, supported by steady growth in digital audio services and expanding partnerships with global streaming platforms. The company’s strategic shift toward digital monetization, including programmatic advertising and content licensing, is helping offset slower traditional broadcast revenues.

Stingray also is know for its healthy balance sheet and disciplined cost management, which enhance its ability to generate free cash flow and maintain shareholder returns through dividends and buybacks. In addition, management’s focus on expanding into international markets, particularly in the U.S. and Latin America which positions Stingray for long-term top-line growth and improved margins.

The valuation increase implies moderate upside potential from current levels, underpinned by a consistent earnings trajectory and improving operating leverage. Technical indicators remain constructive, with the stock trending above its short-term moving averages and investor sentiment gradually turning positive following recent earnings.

Stingray Group shows a bullish outlook, with both technical indicators and analyst sentiment labelled as a “Strong Buy.” The stock carries an average target forecast of CAD $13.25 per share, representing an upside potential of approximately 13% from current levels, reflecting strong momentum and continued investor confidence in its growth trajectory.

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