Wedbush Bullish on Redbox Entertainment, Starts Coverage at Outperform [TheStreet.com]
Redbox Entertainment Inc. - Class A (RDBX)
Company Research
Source: TheStreet.com
Shares of Redbox Entertainment ( ) - edged higher Tuesday after analysts at Wedbush initiated coverage of the entertainment services provider at outperform with a price target of $15 a share. Redbox, known for its bright red DVD kiosks, is an entertainment company that gives consumers access to a large variety of content across digital and physical media. Redbox is legacy name in the home video rental market, with a two-decade, built-in customer base, but a newer entrant into digital content and streaming businesses. Shares of the Oakbrook Terrace, Ill., company rose 0.8% to $11.36 a share. TheStreet Recommends just now 3 minutes ago 8 minutes ago Most are late adopters of technology and have inadequate access or disposable income to spend on streaming services. In a note Reese wrote, "Redbox’s 39 million loyalty members that it can leverage to market its digital products, as many of them are late technology adopters and Redbox makes the transition simple and inexpensive." The
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