Smith Micro price target lowered to $2.50 from $3.50 at Dawson James

Dawson James analyst James McIlree lowered the firm’s price target on Smith Micro to $2.50 from $3.50 and keeps a Buy rating on the shares. The company’s Q4 revenue was slightly lower than estimates and operating expenses higher, resulting in lower than expected EBITDA, the analyst tells investors in a research note. The firm modified the pace of growth it expects but expects sequential growth in revenue to begin in Smith Micro’s Q2 as the Secure Family service from AT&T ramps.