OSI Systems price target lowered to $160 from $175 at Oppenheimer

Oppenheimer lowered the firm’s price target on OSI Systems to $160 from $175 and keeps an Outperform rating on the shares. OSI’s results continue to methodically build a case for a sustained growth landing at Security after mid-30%s FY24 expansion well on track with Q3 results, the firm says. Oppenheimer notes shares pulled back a bit in a mixed backdrop of volatile earnings reactions, a softer quarter for OPTO, and peak/+60% revenue growth for Security-possibly a juncture trade-point of sorts, but clearly tactical, not fundamental as growth was always cresting presently with execution through two XL-sized contracts in particular.