Cambium Networks price target lowered to $4.50 from $5.50 at Raymond James

Raymond James analyst Simon Leopold lowered the firm’s price target on Cambium Networks to $4.50 from $5.50 and keeps an Outperform rating on the shares. Cambium reported a Q1 miss and revised lower its Q2 and FY24 guidance, the analyst tells investors in a research note. Management remains constructive on the ramp of products for the newly approve 6GHz spectrum and the new 60Ghz products, but initial momentum has been a bit slower than expected, and while the first half of 2024 continues to appear challenging, the business should improve in the second half, the firm says.