B. Riley raised the firm’s price target on CompoSecure to $17 from $14 and keeps a Buy rating on the shares. CompoSecure reported strong Q4 results and a return to high single-digit year over year growth along with “substantial” balance sheet repair, the firm says. Arculus for crypto cold storage and computer cybersecurity is now expected to have lower losses in 2024 and reach breakeven in 2025 after a burn of $15M in 2023, which should contribute to an accelerating EPS growth story in 2024 and 2025, B. Riley adds.
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