Barrington lowered the firm’s price target on Information Services to $3.50 from $5 and keeps an Outperform rating on the shares. Following a Q1 miss, the firm is reducing its 2024 and 2025 non-GAAP EPS forecasts, stating that the main drivers to its revisions are reductions in revenue forecasts and an associated reduction in adjusted EBITDA margin forecasts due to lower fixed cost absorption.
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