Sequans price target lowered to $10 from $13 at Lake Street

Lake Street lowered the firm’s price target on Sequans (SQNS) to $10 from $13 and keeps a Buy rating on the shares. Sequans is “transitioning from a BTC treasury story back to a pure-play IoT semiconductor name,” says the analyst, who notes that Sequans is dissolving the Bitcoin treasury to fully redeem its convertible debt by June 1. The firm sees 5G E-RedCap and RF transceiver licensing catalysts ahead, the analyst added.