Mesa Labs price target lowered to $100 from $120 at Wells Fargo

Wells Fargo analyst Brandon Couillard lowered the firm’s price target on Mesa Labs (MLAB) to $100 from $120 and keeps an Underweight rating on the shares. The firm notes Q4 revenues were in line, but adjusted EBITDA missed by about $2M, driven by higher-than-expected bonus accrual. Shares traded sharply lower, which Wells attributes to weak Q4 margins.