Arbe Robotics price target lowered to $6 from $7 at R.F. Lafferty

R.F. Lafferty lowered the firm’s price target on Arbe Robotics to $6 from $7 and keeps a Buy rating on the shares post the Q3 report. The new price target is based on estimated 2024 revenue of $38M, which is lower than the previous estimate of $45M, to account for a conservative production ramp-up in 2024, the analyst tells investors in a research note.