Lake Street lowered the firm’s price target on Quantum Corp (QMCO) to $9 from $10 and keeps a Hold rating on the shares. While noting that Quantum saw an improvement in sales execution in the quarter and that the company ended Q2 with a $25M backlog, one of the largest in recent history, the firm trimmed its estimates as it points out that the company is forecasting AEBITDA losses in three of the next five quarters.
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