Nouveau Monde price target lowered to $5.30 from $9.00 at Roth MKM

Roth MKM analyst Joe Reagor lowered the firm’s price target on Nouveau Monde to $5.30 from $9.00 and keeps a Buy rating on the shares. Nouveau Monde’s Q3 results did not meaningfully impact the firm’s valuation of the company, but the company’s reduced market valuation impacted future dilution assumptions, the analyst tells investors in a research note.