Netlist price target lowered to $2 from $4 at Roth MKM

Roth MKM lowered the firm’s price target on Netlist (NLST) to $2 from $4 but keeps a Buy rating on the shares. The company reported improving Q3 product revenue ahead of consensus, with the management citing recovering memory market demand, and the firm is encouraged that the Samsung (SSNLF) and Micron (MU) litigation cases have resulted in significant damage awards with additional cases coming in the second half of the year, the analyst tells investors in a research note. The firm adds however that its price target cut reflects the near-term supply partner constraints.