Palladyne AI price target lowered to $12 from $14 at Alliance Global

Alliance Global analyst Brian Kinstlinger lowered the firm’s price target on Palladyne AI (PDYN) to $12 from $14 and keeps a Buy rating on the shares following the Q1 report. The firm believes revenue generation is the long-term driver of the share. However, in the near-term, positioning Palladyne’s AI technology for initial production orders and successful installation are more important, the analyst tells investors in a research note. Alliance believes this is more important than the Q1 revenue miss.