JPMorgan analyst Reginald Smith downgraded CompoSecure to Neutral from Overweight with a price target of $6, down from $7, as the metal cards opportunity is losing steam and growth initiatives have “failed to materialize.” The firm doesn’t see a path to sustained double-digit revenue growth and thinks CompoSecure “remains in the penalty box until the near-term outlook and longer-term guidance are more closely aligned,” the analyst tells investors.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on CMPO:
- CompoSecure Designated a Microsoft-Compatible FIDO2 Security Key Vendor for Passwordless Authentication
- CompoSecure price target lowered to $14 from $16 at B. Riley
- CompoSecure cuts FY23 revenue view to $386M-$392M from $400M-$425M
- CompoSecure reports Q3 EPS 24c, consensus 25c
- CompoSecure Reports Third Quarter 2023 Financial Results
