Pulmonx price target lowered to $10 from $12 at Piper Sandler

Piper Sandler analyst Jason Bednar lowered the firm’s price target on Pulmonx (LUNG) to $10 from $12 and keeps an Overweight rating on the shares. The firm notes the company reported Q3 results, including revenue of $20.4M/+15% year-over-year that finished just ahead of Street’s $20.3M. Revenue grew double digits in each of the company’s U.S. and international segments, and management is successfully implementing cost containment actions to improve adjusted EBITDA and cash burn, Piper adds.