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.
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