Impinj price target lowered to $170 from $246 at Cantor Fitzgerald

Cantor Fitzgerald analyst Troy Jensen lowered the firm’s price target on Impinj (PI) to $170 from $246 and keeps an Overweight rating on the shares. Impinj’s Q4 results met expectations, but Q1 guidance came in well below consensus due to inventory digestion and weak apparel retailer demand, likely pressuring shares near-term, the analyst tells investors in a research note. Longer-term secular growth opportunities in retail, supply chain, logistics, and general merchandise remain intact, making any near-term weakness a potential buying opportunity, Cantor says.