Quantum price target lowered to $5 from $10 at Lake Street

Lake Street analyst Eric Martinuzzi lowered the firm’s price target on Quantum (QMCO) to $5 from $10 and keeps a Hold rating on the shares after the company cited softer-than-expected demand for enterprise data protection systems, especially in its U.S. market, as well as supply chain issues for its “substantial” FY25 revenue reset. Quantum is still struggling to stabilize and predict its business, notes the firm, which adds that it expects better execution in the second half of FY25.