Smith Micro Software (SMSI) PT Lowered to $12 at Roth/MKM

Roth/MKM analyst Scott Searle lowered the price target on Smith Micro Software (NASDAQ: SMSI) to $12.00 (from $24.00) while maintaining a Buy rating.

The analyst comments "After a prolonged period of decline marked by disruption from carrier integration efforts (AT&T and T-Mobile), we believe that SMSI is poised to enter a period of sustained growth. Stabilization at T-Mobile and expected marketing efforts at AT&T (addressing its 41M account base) will be further coupled with commercialization of SafePath Global (initially DISH, but with a growing pipeline) and a tier 1 European operator. While we lower our estimates, the recent capital raise provides financial flexibility and we see upside to $12. Buy."

You May Also Be Interested In

• RCM Technologies (RCMT) PT Raised to $45 at Benchmark on Q2 Beat
• MGM Resorts (MGM) PT Raised to $55 at Argus
• Seaport Global Securities Downgrades JetBlue Airways (JBLU) to Neutral