Airgain price target lowered to $5 from $7 at Craig-Hallum

Craig-Hallum analyst Anthony Stoss lowered the firm’s price target on Airgain (AIRG) to $5 from $7 and keeps a Buy rating on the shares. The firm says the company’s near term will be driven by its Connect Fleet automotive solutions and expects growing shipments next year. Shipments for Wi-Fi 7 were strong in the quarter as the company continues to collect design wins for their antennas. Craig-Hallum notes guidance for December came well below consensus as budget and funding constraints accelerated by the government shutdown are expected to remain headwinds through the first half of 2026. The firm continues to think Airgain is positioned well for long-term growth on the back of AC Fleet and believes management will have to continue to steer the ship through a rockier macro.