Roth MKM lowered the firm’s price target on Lantronix to $9 from $12 but keeps a Buy rating on the shares. The company’s Q2 results were mixed, with in-line sales offset by lower gross margins, and the management cut its outlook for Q3 and FY24 on elevated channel inventory and an embedded customer pushout, the analyst tells investors in a research note. Lantronix guidance is a clear disappointment, but Enel is on track, the right CEO has been appointed, and the stock’s valuation remains attractive, the firm added.
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