Evogene price target lowered to $5 from $12 at Lake Street

Lake Street lowered the firm’s price target on Evogene (EVGN) to $5 from $12 and keeps a Buy rating on the shares. Q3 results missed the firm’s estimates on another pushout of Casterra deliveries, notes the analyst. While the firm believes a major follow-on order at Casterra remains the most significant commercial catalyst and can reverse the downward move in the stock, it acknowledges delays in current order delivery and a follow-on order “continue to be a material headwind for investors.”