Nexxen International: Rosenblatt raises PT to $16 from $15, maintains Buy rating.

Nexxen International: Rosenblatt raises PT to $16 from $15, maintains Buy rating.

Nexxen International Ltd. (NASDAQ: NEXN) has seen a positive update from Rosenblatt Securities, which has raised its price target to $16 from $15, while maintaining a Buy rating. This move comes on the heels of the company's announcement to seek authorization for a new $20 million ordinary share repurchase program [1].

The new repurchase program is expected to commence following the completion of Nexxen's current program. The company believes this is an opportune moment to acquire its ordinary shares at a discounted valuation, reflecting confidence in its long-term prospects. Nexxen's strong cash position, supported by its profitable and cash-generative model, allows it to execute a balanced capital allocation strategy that prioritizes both long-term growth and shareholder value creation [1].

In addition to the repurchase program, Nexxen has also announced plans to invest an additional $35 million in VIDAA, increasing its equity stake to approximately 6%. This investment is aimed at supporting VIDAA's North American CTV expansion and enhancing the long-term value of Nexxen's exclusive data and advertising monetization rights [1]. The company is also exploring targeted strategic opportunities to expand its monetizable data assets, strengthen its AI capabilities, and boost growth in its core U.S. and international businesses [1].

As an Israeli company, Nexxen must comply with Israeli regulations, which require it to await the expiration of a 30-day creditor objection period before the new repurchase program can become effective. The program's commencement is contingent upon receiving consent from the Company's bank lenders [1].

As of July 31, 2025, approximately $7.2 million remained under Nexxen's current ordinary share repurchase authorization, which is expected to be completed prior to its scheduled end date of November 19, 2025 [1]. The company will provide updates on the commencement of the new repurchase program or any delays due to creditor objections or lack of lender consent.

Rosenblatt's positive outlook aligns with Nexxen's strategic moves, which aim to capitalize on current market conditions and enhance its long-term value. The company's robust capabilities in data and advanced TV, along with its global market presence, position it well for future growth [2].

References:
[1] https://www.globenewswire.com/news-release/2025/08/15/3134174/0/en/Nexxen-Seeks-Authorization-for-New-20-Million-Ordinary-Share-Repurchase-Program.html
[2] https://www.nasdaq.com/articles/nexxen-seeks-approval-20-mln-share-buyback-invest-35-mln-vidaa