Craig-Hallum lowered the firm’s price target on Indie Semiconductor (INDI) to $6 from $8 and keeps a Buy rating on the shares. The firm says the company’s large auto radar win is still on track to ramp in Q4, as well as management sticking with EBITDA breakeven in Q4, but notes the company’s ADAS win with Ficosa was pushed into early 2026 from Q4 given continued macro weakness. Craig-Hallum is lowering his FY25 and FY26 estimates to remain conservative given a volatile economy.
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