Wedbush analyst Daniel Ives lowered the firm’s price target on Telos to $5 from $8 and keeps an Outperform rating on the shares. Telos reported a "good" December quarter, but provided "disastrous" guidance as a number of key government deals are rolling off and not being replenished with new wins so far in 2023, the analyst tells investors in a research note. The firm thinks any M&A situation would likely be in the $5-$8 range as Telos is an attractive cyber asset for a strategic or financial buyer looking to further penetrate the Beltway.
Published first on TheFly
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