Emcore price target lowered to $1.25 from $1.50 at Alliance Global Partners

Alliance Global Partners lowered the firm’s price target on Emcore to $1.25 from $1.50 and keeps a Buy rating on the shares post the fiscal Q1 report. The firm argues the stock is oversold as a result of the company’s “abnormally high” cash burn. The stock will recover if management can approach breakeven on cash flow as it exits fiscal 2024, As previously reported,