ESS Inc. price target lowered to $1.25 from $1.75 at Canaccord

Canaccord lowered the firm’s price target on ESS Inc. to $1.25 from $1.75 and keeps a Hold rating on the shares. The firm said while they experienced some delays in its 4Q23 operations, management continues to expect momentum to improve throughout 2024 from both a revenue and profitability perspective as new customers ramp and cost-out initiatives bear fruit.