B. Riley lowered the firm’s price target on CompoSecure to $14 from $16 and keeps a Buy rating on the shares post the Q3 report. . The company saw lumpiness in its international business that sent nondomestic sales down 33% year-over-year, the analyst tells investors in a research note. The firm says that while the secular growth trends in metal cards are still valid, the sector is digesting a rapid period of recovery growth and now cautiousness in the banking sector after multiple rate hikes and concerns about a slowing economy.
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