CalAmp price target lowered to $4 from $10 at Craig-Hallum

Craig-Hallum analyst Anthony Stoss lowered the firm’s price target on CalAmp to $4 from $10 and keeps a Buy rating on the shares. CalAmp reported relatively in-line Q4 EPS and revenues, and the firm highlights the company’s continued growth in recurring revenue, which now stands at 65% of total revenue, the analyst tells investors in a research note. While the company is making progress on growing its recurring revenue, the firm notes that the company’s debt balance of roughly $228M needs to be addressed sooner than later for the stock to work as it is coming due in August 2025.