Digi International price target lowered to $40 from $50 at Stephens

Stephens analyst Tommy Moll lowered the firm’s price target on Digi International to $40 from $50 and keeps an Overweight rating on the shares. The firm is updating its model for Q4 earnings. While Stephens does not believe shares will inflect in the near term due to macro uncertainty, the firm will not be surprised if longer-term oriented investors begin to take interest at these levels.