Smith Micro price target lowered to $1.25 from $1.50 at B. Riley

B. Riley lowered the firm’s price target on Smith Micro (SMSI) to $1.25 from $1.50 and keeps a Buy rating on the shares after the company reported Q4 results. While the Verizon (VZ) family safety termination at the end of November will be a Q1 headwind, management believes the company has now “turned the corner” on the marketing front with AT&T (T) and that the latter’s launch could support a return to year-over-year growth by the end of 2024, the analyst tells investors.