CPI Card Group price target lowered to $23 from $26 at B. Riley

B. Riley lowered the firm’s price target on CPI Card Group to $23 from $26 and keeps a Buy rating on the shares. The company reported “weak but in-line” Q4 results as financial institutions continue to work down card inventories, the analyst tells investors in a research note. The firm lowered estimates but says CPI’s trends are expected to improve throughout the year.