RCM Technologies price target lowered to $17 from $23 at B. Riley

B. Riley analyst Alex Rygiel lowered the firm’s price target on RCM Technologies to $17 from $23 and keeps a Buy rating on the shares post the Q4 results. The company is positioned for growth and margin expansion across all its segments, given its "strong and diversified" end markets and past initiatives, the analyst tells investors in a research note. However, the firm reduced 2023 estimates to take a more conservative approach as RCM annualizes past high demand during COVID and project/contract timing "lumpiness."