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Investing.com - Canaccord Genuity has assumed coverage on Tiny Ltd (TSX:TINY) with a Speculative Buy rating and a price target of C$1.75.
The coverage assumption follows Tiny’s recent quarterly results, which reflect the initial impact of the company’s significant Serato acquisition, according to Canaccord Genuity.
With the Serato acquisition, described as a highly profitable asset, Tiny is resuming its deleveraging profile at an accelerated rate, the research firm noted.
Canaccord Genuity’s positive thesis is based on several catalysts, including an improved organic growth profile through Serato inclusion and easier comparisons for the Creative Platform segment.
Additional catalysts cited include accelerated deleveraging with improving free cash flow, one-time licensing fee capture, and potential realization of latent value in the company’s Tiny Fund investments.
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