SoundThinking price target lowered to $26 from $40 at Northland

Northland lowered the firm’s price target on SoundThinking to $26 from $40 and keeps an Outperform rating on the shares after Chicago’s mayor decided to extend the SoundThinking contract to September and then cancel thereafter. The firm assumes this will be the case, and thus is lowering its FY24 estimate for those comments.