Emcore price target lowered to $1.50 from $3.00 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on Emcore to $1.50 from $3.00 and keeps a Buy rating on the shares. Emcore reported Q3 results last week that were near consensus, and the firm says Emcore is near breakeven on INS, and believes that as it executes towards that point, the 0.2x EV/S multiple can increase toward 1x or even higher, providing returns in the ~2-4x range, the analyst tells investors in a research note.