Pulmonx price target lowered to $4 from $8 at Lake Street

Lake Street lowered the firm’s price target on Pulmonx (LUNG) to $4 from $8 and keeps a Buy rating on the shares. While the return of former CEO Glen French and CFO Derrick Sung was “certainly surprising,” the firm believes the Street will view the return of prior leadership positively, the analyst tells investors. The firm, which continues to think shares are attractive given the “vast clinical verification/proof of concept of Zephyr valves,” and the market opportunity and new product pipeline, notes that its lowered price target still “supports an approximate double from after-hours prices.”