B. Riley analyst Craig Ellis lowered the firm’s price target on Indie Semiconductor (INDI) to $6 from $7 and keeps a Buy rating on the shares. Indie’s Q1 sales were below estimates, and while EPS met consensus, sales guidance for Q2 was further below, the analyst tells investors in a research note. The firm believes “forceful” tariff cross-currents are to blame rather than Indie’s program issues for the lower sales.
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