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Investing.com - Jefferies has upgraded Audinate Group Ltd (ASX:AD8) stock rating from Hold to Buy, while simultaneously lowering its price target to AUD7.00 from AUD7.50.
The upgrade comes despite Jefferies acknowledging that Audinate’s near-term outlook has proven weaker than consensus expectations, a concern the firm had previously identified.
Jefferies noted that Audinate has guided for continued cash burn through fiscal year 2026, which may disappoint investors focused on short-term results.
Despite these challenges, Jefferies believes management’s strategy remains sound and that current valuations attribute "close to no value for outlook beyond networked audio."
The revised price target of AUD7.00, though lower than the previous AUD7.50 target, still represents potential upside based on the firm’s assessment of Audinate’s long-term prospects.
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