Innovative Eyewear price target lowered to $1 from $1.75 at Maxim

Maxim analyst Matthew Galinko lowered the firm’s price target on Innovative Eyewear to $1 from $1.75 and keeps a Buy rating on the shares. The company’s 2023 revenue exceeded the firm’s estiamtes, but its gross margins in Q4 was negative, with price competition seen as a key factor, the analyst tells investors in a research note.