Comtech Telecom (CMTL) PT Lowered to $35 at Jefferies
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Jefferies analyst George Notter lowered the price target on Comtech Telecom (NASDAQ: CMTL) to $35.00 (from $36.00) while maintaining a Buy rating.
The analyst commented, "July results looked solid considering remaining COVID-related impacts on the international side of the business and headwinds from US troop withdrawals from Afghanistan. FY’22 guidance was modestly below Street expectations, which we think is conservative. We continue to like the risk/reward. Potential catalysts include: 1) a post- COVID Satellite Ground Station recovery; 2) Satellite Ground Station TAM expansion; 3) the Troposcatter business; and 4) NG-911."
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