Ads-Tec Energy price target lowered to $10 from $12 at DA Davidson

DA Davidson analyst Matt Summerville lowered the firm’s price target on Ads-Tec Energy to $10 from $12 but keeps a Buy rating on the shares. The analyst cites the company’s update that focused on numerous unexpected supply chain challenges and that will drive 2022 revenues below its prior EUR80M-EUR100M guidance, though he remains bullish on the stock and its proprietary tech longer term. Summerville updates his model, stating that deliveries and future cash flows are likely to be pushed further into the future, noting that they are "mathematically worth less" in present value to investors today.