Why Boat Rocker Media Shares Are Trading Higher Today

Boat Rocker Media Inc BRMI price target has been lowered to C$9 from C$10 by RBC Capital analyst Drew McReynolds while maintaining the Outperform rating in the shares.
1Q22 results were below the analyst firm's forecast attributed entirely to timing given the inherent quarterly volatility of the business.
McReynolds mentions that the 2022 guidance was reiterated as expected.
The analyst trimmed their target multiple to reflect a higher interest rate environment and a rising equity risk premium.
Price Action: BRMI shares are trading higher by 12.46% at C$3.25 on TSX on the last check Friday.

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