Smith Micro price target lowered to $1.50 from $2 at B. Riley

B. Riley analyst Josh Nichols lowered the firm’s price target on Smith Micro to $1.50 from $2 and keeps a Buy rating on the shares post the Q3 report. The analyst says carrier launch delays have been an ongoing challenge. However, the firm remains cautiously optimistic about the progress made to date with AT&T with the potential for an expedited adoption cycle.