Cambium Networks price target lowered to $12.50 from $25 at Roth MKM

Roth MKM lowered the firm’s price target on Cambium Networks to $12.50 from $25 bit keeps a Buy rating on the shares after its negative Q3 pre-announcement. The quarter represents the second consecutive material miss resulting from a combination of delays for PTP defense sales, continued weak PTM results and enterprise headwinds, the analyst tells investors in a research note. The firm adds however that it remains at Buy given the stock’s valuation of 0.7-times on enterprise value to expected 2023 sales based on aftermarket price, as well as Cambium’s new products and expected changes from new CEO.