Information Services price target lowered to $6 from $7 at Barrington

Barrington analyst Vincent Colicchio lowered the firm’s price target on Information Services to $6 from $7 and keeps an Outperform rating on the shares after the company reported Q3 revenue and non-GAAP EPS that missed the firm’s forecasts. Client delays and slowing ramps for largely digital solutions and digital transformation engagements have negatively impacted the outlook, notes the analyst, who is reducing the firm’s 2023 and 2024 earnings forecast.