Compass Point analyst Chase White lowered the firm’s price target on CompoSecure to $12 from $15 and keeps a Buy rating on the shares post the Q2 report. The major news from earnings was the company signing a five-year extension with JPMorgan to be its exclusive provider of metal cards, the analyst tells investors in a research note. The firm thinks one of the last remaining overhangs on the stock has been lifted. Compass still views CompoSecure shares as “significantly undervalued” but dropped the price target to reflect a reduced valuation for Arculus.
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