Coda Octopus price target lowered to $8 from $10 at Alliance Global Partners

Alliance Global Partners analyst Brian Kinstlinger lowered the firm’s price target on Coda Octopus (CODA) to $8 from $10 and keeps a Buy rating on the shares following Q1 results. The firm told investors in a research note that underlying fundamentals of Coda are meaningfully weaker than three to six months ago as both new policies and tariffs by President Trump as well as U.S. federal budget challenges are leading to lower demand. However, the beginning of the ramp in adoption of the underwater heads-up display could be “a saving grace,” according to Alliance Global Partners.