Raymond James analyst Ric Prentiss downgraded KVH Industries to Market Perform from Strong Buy without a price target. The company continues to experience headwinds heading into 2023 related to supply chain competition, and as shares have significantly outperformed the market year-to-date, Prentiss feels the current valuation more fairly represents the company’s value, he tells investors in a research note. The analyst is stepping to the sidelines and will watch to see how the company deploys its balance sheet capital, as well as how the supply chain recovers.
Published first on TheFly
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