Poet Technologies price target lowered to $3 from $7.50 at Craig-Hallum

Craig-Hallum analyst Richard Shannon lowered the firm’s price target on Poet Technologies to $3 from $7.50 but keeps a Buy rating on the shares. The firm is updating its model after the company’s Q4 preliminary results and capital raises, the analyst tells investors in a research note. Poet Technologies has raised more capital in the past few months at notably lower prices than the prevailing stock price, but while this is “disappointing to see”, this also creates a much better entry point to invest in a disruptor in the optical xcvr space that is seeing so much attention and growth this year, the firm added.