Aviat Networks price target lowered to $45 from $51 at Lake Street

Lake Street analyst Jaeson Schmidt lowered the firm’s price target on Aviat Networks to $45 from $51 and keeps a Buy rating on the shares. Revenue and profitability were both in line with the preliminary expected ranges, but were below original guidance, notes the analyst, who is “disappointed” in the softer FY25 guidance, but believes the outlook was “much better than most investors had feared.” The firm acknowledges the ramp after fiscal Q1 will be steep, so it is taking a more conservative stance regarding its own FY25 estimates, but remains bullish on the long-term.