Identiv price target lowered to $13 from $15 at Lake Street

Lake Street lowered the firm’s price target on Identiv to $13 from $15 and keeps a Buy rating on the shares after the company lowered 2023 revenue guidance "again," marking its the second downward revision from its original range of $169M-$176M. Though the revenue miss and downwardly revised guidance were "disappointing," the firm believes there were likely some investors that saw the previous guidance, even after being cut, as "still ambitious" and thinks the better profitability and management’s signal on continued margin focus will "help soften the blow."