Energous price target lowered to $2.50 from $4 at Roth MKM

Roth MKM lowered the firm’s price target on Energous to $2.50 from $4 but keeps a Buy rating on the shares after its Q1 results. The company’s 30% sequential revenue decline is reflecting the early-stage nature of the its ongoing customer pilot programs, though the firm is encouraged by Energous’s ongoing program development efforts, the analyst tells investors in a research note.