The Globe and Mail reports in its Thursday edition that Eight Capital analyst Kiran Sritharan has reaffirmed his "buy" recommendation for Sabio Holdings. The Globe's David Leeder writes that Mr. Sritharan swung an axe at his share target, chopping it back by a loonie to $1.50. Analysts on average target the shares at $1.67. On Monday, the Toronto-based provider of connected TV and over-the-top advertising platforms reported third quarter results that came in at the high end of its prereleased ranges. That included revenue of $8.8-million, down 26 per cent year-over-year due to "pronounced declines in political and advocacy spending." Mr. Sritharan says in a note: "We expect the macro-driven weakness to continue into next year, despite improving economic indicators. However, key headwinds specific to Sabio are subsiding (ending strikes and an uptick in political spending) and management expects a lift in estimates. The $10-million in commitments that Sabio has locked in from agencies implies success with expanding wallet share from large logos. The industry's transition to CTV remains intact, and we like the fragmented nature of this channel which offers healthy competition from niche players like Sabio."