RF Industries price target lowered to $7.50 from $9 at B. Riley

B. Riley analyst Josh Nichols lowered the firm’s price target on RF Industries to $7.50 from $9 and keeps a Buy rating on the shares. The analyst cites multiple compression for the target drop but believes the company’s backlog conversion will support its growth and margin expansion. RF is experiencing expanded customer opportunities with its broader product offering from Microlab that will support sales growth and additional margin improvement as carriers continue to ramp small cell and fiber deployments to support 5G network densification, Nichols tells investors in a research note.