Kore Group price target lowered to $5 from $7.50 at Northland

Northland analyst Michael Latimore lowered the firm’s price target on Kore Group to $5 from $7.50 and keeps an Outperform rating on the shares. After the company participated in the firm’s conference this week and said they expect to have their debt refinancing done by the Q3 earnings call, the firm said it expects a refinancing to be “a positive catalyst for the stock.” However, Northland is lowering its revenue estimate while keeping its EBITDA view unchanged, citing uncertainty around low margin hardware purchases in the healthcare vertical.