Canaccord analyst Aravinda Galappatthige downgraded illumin (ILLMF) to Speculative Buy from Buy with a price target of C$2.75, down from C$3.25. Q1 topline results beat expectations, but the firm believes that macro-related volatility and the need to invest more in terms of sales and marketing is likely to result in a more meaningful inflection point in the business now occurring post FY25, as opposed to sooner, the analyst tells investors.
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