nLight price target lowered to $14 from $17 at Stifel

Stifel lowered the firm’s price target on nLight (LASR) to $14 from $17 and keeps a Buy rating on the shares after the company provided preliminary Q4 expectations with a weaker-than-expected revenue range of $46M-$48M that was below the low end of the company’s prior $49M-$54M guidance range. The firm updated its model to reflect the short-term challenges, but believes the story over the next 18-or-so months “remains promising,” the analyst tells investors.