Lake Street analyst Eric Martinuzzi raised the firm’s price target on Quantum (QMCO) to $20 from $5 and keeps a Hold rating on the shares. On January 27, Quantum entered into a standby equity purchase agreement with Yorkville Advisors, which could allow the company to issue up to $200M in common stock, notes the analyst. The firm’s raised price target assumes the company is able to take advantage of favorable market conditions to pay down a large chunk of its debt and reduce future interest payments, noting that its new FY27 model incorporates a number of assumptions around the company’s recently-signed $200M SEPA.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on QMCO:
- Quantum enters into Standby Equity Purchase Agreement with Yorkville Advisors
- Quantum files to sell 2.3M shares of common stock for holders
- Quantum Leap: Commercialization timeline debated as various CEOs sound off
- Quantum says transactions incorrectly reported by some outlets as dispositions
- Quantum Corp trading resumes