Mercury Systems price target lowered to $45 from $54 at RBC Capital

RBC Capital analyst Ken Herbert lowered the firm’s price target on Mercury Systems to $45 from $54 and keeps a Sector Perform rating on the shares. The company beat on Q3 earnings but also "substantially" lowered its Q4 guidance, which will likely be a drag on the stock, the analyst tells investors in a research note. Mercury Systems also has not provided an update on its strategic review, and it continues to call out supply chain and contract timing delays, the firm adds.