Meta Materials price target lowered to $1.20 from $2 at Alliance Global

Alliance Global Partners lowered the firm’s price target on Meta Materials to $1.20 from $2 and keeps a Buy rating on the shares. The reduction reflects dilution incurred from the company’s $25M equity financing completed in Q2, the analyst tells investors in a research note. The firm, however, believes Meta Materials is reaching an inflection point, transitioning from the R&D phase to the commercialization stage.