Alpha & Omega price target lowered to $24 from $29 at Stifel

Stifel lowered the firm’s price target on Alpha & Omega to $24 from $29 and keeps a Hold rating on the shares. December quarter guidance disappoints, with the $160.0M revenue guidance midpoint coming in 8.9% and 9.9% lower than the firm’s and Street estimates, the analyst tells investors. While “encouraged” by the cash injection in the quarter from its JV divestiture, the firm believes the company’s longer-term growth prospects remain fairly balanced against challenging near-term conditions and margin concerns.