Panmure Liberum is holding firm in its bullish stance on Digitalbox PLC (AIM:DBOX), repeating its 'buy' recommendation and reaffirming a 10p price target, more than double the company’s current share price of 4.3p.
The call follows confirmation that Digitalbox has completed its acquisition of social media assets from Social Chain, a move the broker expects will enhance earnings and help diversify the group’s revenue streams.
The deal includes the Facebook and Instagram pages of The Life Network, which adds to Digitalbox’s portfolio of digital publishing brands and boosts its total social media following to over 26 million.
Panmure notes the acquisition was completed after a period of testing, during which the assets contributed positively to performance, particularly for its Royal Insider brand.