Xperi price target lowered to $12 from $30 at BWS Financial

BWS Financial analyst Hamed Khorsand lowered the firm’s price target on Xperi (XPER) to $12 from $30 and keeps a Buy rating on the shares after the company reported preliminary Q2 results and reduced its revenue outlook for the full year. Future quarters could be negatively swayed by the lack of units in the channel, according to the firm, which notes that Xperi is no longer the analyst’s “Top Pick.”