ShotSpotter price target lowered to $45 from $52 at Northland

Northland lowered the firm’s price target on ShotSpotter to $45 from $52 and keeps an Outperform rating on the shares, noting that it is factoring in the potential for slower growth in FY24 after a mayor who is opposed to ShotSpotter was elected in Chicago. The firm says the majority of the city council and the prior three chiefs of police have been in favor of ShotSpotter, so it expects the company’s "main focus will be to convince the mayor to change his political position to an operational one based on facts."