908 Devices price target lowered to $6 from $17 at Stifel

Stifel analyst Daniel Arias lowered the firm’s price target on 908 Devices (MASS) to $6 from $17 and keeps a Buy rating on the shares after a “difficult” Q3 that included “a sharp guidance cut that raises questions about the growth trajectory in both 2024 and 2025.” The Q3 report “exposed the issues with being heavily dependent” on government funding cycles at a time when instrument demand on the other side of the house remains weak for the company, the analyst added.