Gentherm price target lowered to $65 from $85 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on Gentherm (THRM) to $65 from $85 and keeps a Buy rating on the shares. The firm thinks shares have been oversold on cuts to light-vehicle production forecasts and various OEM challenges. Following the guidance cut, estimates and expectations have been reset and Craig-Hallum thinks is a clearing event for a stock now trading at the lowest absolute and relative multiple.