CPI Card Group price target lowered to $30 from $35 at Lake Street

Lake Street lowered the firm’s price target on CPI Card Group (PMTS) to $30 from $35 and keeps a Buy rating on the shares. Q2 results “appeared short of consensus,” but were actually ahead of consensus when excluding an accounting rule change that impacted revenue by $8M, the analyst tells investors. Despite some near-term margin pressures, the firm sees CPI Card Group as “a compelling buying opportunity for long-term investors,” the analyst added. The firm cites a slightly larger tariff impact than originally expected for its lower price target