Parametric Sound (PAMT) PT Raised to $12.50 at Stephens

Stephens analyst Daniel Imbro raised the price target on Parametric Sound (NASDAQ: PAMT) to $12.50 (from $11.00) while maintaining a Equal Weight rating.

The analyst commented: "PAMT reported a 1Q25 adj. EPS miss, driven by continued challenges in the broader TL backdrop, but specifically by challenges in the automotive market. The lack of auto volumes continues to drive OR deleverage, as fleet productivity has remained hampered. The automotive market has started 2Q softer, as domestic OEMs continue to take plants offline for downtime, some of which may persist through the summer. Encouragingly, we believe PAMT continues to get contract rate increases from shippers, but this is not enough to offset the lower volume. We are lowering our estimates again for 2025 and 2026 as we lack visibility to material improvements in the end-market (despite cost actions that could benefit earnings as we move through 2025). If PAMT executes on its cost-cutting initiatives, we expect modest profitability in the 2H25. We remain EW with a $12.50 price target (prior $11)."

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