Nexxen International(NEXN) Soars 2.12% on Raymond James Upgrade

Nexxen International(NEXN) surged to a record high today, with an intraday gain of 2.12%.

The strategy of buying NEXN shares after they reached a recent high and holding for 1 week yielded moderate returns over the past 5 years, with a 4.5% annualized gain. This result suggests that the strategy captured some short-term volatility and growth in the intervening period, although the overall performance was relatively modest.

Raymond James recently upgraded Nexxen International from Market Perform to Outperform, indicating a bullish outlook for the company's stock. This upgrade was accompanied by a substantial increase in the price target, suggesting a potential 140.09% upside from its latest reported closing price. The upgrade reflects growing institutional interest in Nexxen International, with a notable increase in the total shares owned by institutions in recent months. Additionally, the low put/call ratio of 0.11 further supports the positive sentiment surrounding the stock.