Kore Group price target raised to $5 from $3 at TD Cowen

TD Cowen raised the firm’s price target on Kore Group (KORE) to $5 from $3 and keeps a Hold rating on the shares. The firm said 3Q results missed their estimates across the board. Management withdrew guidance, and so lowered its estimates to reflect softer-than-expected trends. Cowen noted Searchlight and Abry submitted a $5 take-private offer, and with insider alignment and fair CAAS-based multiples, they raise their target to the offer price.