Coda Octopus price target lowered to $10 from $11 at Alliance Global Partners

Alliance Global Partners lowered the firm’s price target on Coda Octopus (CODA) to $10 from $11. The company’s Q4 results were underwhelming,” the analyst tells investors in a research note. The firm says that although management expects initial orders and new program wins for the DAVD, it expects U.S. budget challenges will result in weaker overall demand in the first half of 2025. Its new earnings estimates reflect the Precision Acoustics acquisition partially offset by weaker forecasted organic growth.