National Bank Financial Lowers Stingray Group (TSE:RAY.A) Price Target to C$8.00

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Stingray Group (TSE:RAY.A) had its target price lowered by National Bank Financial from C$9.00 to C$8.00 in a research report sent to investors on Friday morning, BayStreet.CA reports. National Bank Financial currently has an outperform rating on the stock.

A number of other research analysts have also weighed in on RAY.A. BMO Capital Markets decreased their price objective on Stingray Group from C$11.00 to C$9.00 in a report on Friday. TD Securities decreased their price objective on Stingray Group from C$11.00 to C$9.50 and set a buy rating on the stock in a report on Friday, February 8th. CIBC decreased their price objective on Stingray Group from C$11.00 to C$9.00 and set an average rating on the stock in a report on Friday, February 8th. Finally, Royal Bank of Canada decreased their price objective on Stingray Group from C$11.00 to C$10.00 and set an outperform rating on the stock in a report on Friday, February 8th.

Shares of TSE:RAY.A opened at C$5.90 on Friday. Stingray Group has a 1 year low of C$7.19 and a 1 year high of C$10.59.

About Stingray Group

Stingray Group Inc provides business-to-business multi-platform music, and in-store music and video solutions to businesses and individuals worldwide. The company offers Stingray Music, which delivers music products and services on television (TV), Web, and mobile; Stingray Lite TV, a TV channel for pop music videos; Stingray iConcerts, a TV channel and an on-demand video service; Stingray Brava, a TV channel that provides operas and ballets, classical music performances, and local content; Stingray DJAZZ, a TV channel that features jazz concerts, films, portraits, and documentaries; Stingray Ambiance 4K, an ultra-high definition channel; and Stingray Karaoke that offers videos over the Internet and TV for TV service providers, as well as directly to consumers.

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