RBC Capital analyst Ken Herbert lowered the firm’s price target on Mercury Systems to $35 from $40 and keeps a Sector Perform rating on the shares. The analyst is citing the company’s “significant” Q4 earnings miss and lowered expectations that have raised “execution questions”. While RBC is positive on the management’s greater transparency, investors will remain cautious pending better visibility on the margin and free cash flow improvement, the firm tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on MRCY:
- Mercury Systems down 11% at $30.21 after Q4 miss, below-consensus guidance
- Mercury Systems guides initial FY24 EPS $1.14-$1.48, consensus $1.76
- Mercury Systems appoints Bill Ballhaus as CEO, chairman
- Mercury Systems reports Q4 adjusted EPS 11c, consensus 59c
- Mercury Systems Names Bill Ballhaus as President and CEO