Brainsway price target lowered to $12 from $13 at H.C. Wainwright

H.C. Wainwright analyst Raghuram Selvaraju lowered the firm’s price target on Brainsway to $12 from $13 and keeps a Buy rating on the shares. The analyst says the company’s leadership transition is likely to herald a focus on operating efficiency. The change in chief executive may signal greater focus on operating efficiency and expense control, particularly given management’s guidance of potential achievement of operational income break-even by the end of 2023, the analyst tells investors in a research note.