Northland analyst Michael Latimore downgraded BigBear.ai (BBAI) to Market Perform from Outperform with a price target of $4, up from $2.50. The firm downgrades the shares until the company has time to implement its new CEO’s plans and returns to more consistent and meaningful growth. BigBear.ai reported a large revenue and slight EBITDA miss in Q4 and government spending patterns remain uncertain in the near term, the analyst tells investors in a research note.
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