Roth MKM analyst Scott Searle lowered the firm’s price target on CalAmp to $5 from $6 and keeps a Buy rating on the shares. The company missed top line expectations on TSP weakness, even though its cost efforts put adjusted EBITDA at the lower end of the guided range, the analyst tells investors in a research note. CalAmp stock performance will remain challenged until investor confidence of annualized adjusted EBITDA of $40M-$50M improves, the firm added.
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