Extreme Networks price target lowered to $13 from $15 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on Extreme Networks to $13 from $15 and keeps a Hold rating on the shares. The firm notes Extreme Networks is continuing to see channel inventory reductions impacting its results and management stated they believe the industry-wide cautious customer spending outlooks and elongated spending cycles are still likely to take a few quarters to normalize.