Inseego price target lowered to $12 from $17 at Stifel

Stifel analyst Tore Svanberg lowered the firm’s price target on Inseego (INSG) to $12 from $17 and keeps a Hold rating on the shares after the company made three filings with the SEC yesterday morning, including filing an S-1 in connection with recent debt restructuring. The S-1 was filed to fulfill the company’s obligation to register the shares associated with its debt restructuring, with no material impact on the firm’s estimates for share count, notes the analyst, who maintains a Hold rating pending continued evidence of sustainability of the company’s turnaround and resolution of its CEO search.