DragonWave Price Target Cut to C$1.70 (DWI)
Analysts at Desjardins cut their target price on shares of DragonWave (TSE:DWI) from C$1.90 to C$1.70 in a research report issued to clients and investors on Friday, American Banking News.com reports. The firm currently has a “hold” rating on the stock. Desjardins’ price objective indicates a potential upside of 25.93% from the stock’s previous close.
DWI has been the subject of a number of other recent research reports. Analysts at Raymond James cut their price target on shares of DragonWave from C$1.80 to C$1.50 in a research note on Friday. Separately, analysts at Canaccord Genuity cut their price target on shares of DragonWave from C$1.50 to C$1.25 in a research note on Friday. Finally, analysts at Jefferies Group cut their price target on shares of DragonWave from C$2.00 to C$1.50 in a research note on Friday. Two equities research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company’s stock. The company presently has a consensus rating of “Sell” and an average price target of C$1.45.
DragonWave (TSE:DWI) traded up 12.50% during mid-day trading on Friday, hitting $1.35. 54,485 shares of the company’s stock traded hands. DragonWave has a 52 week low of $1.13 and a 52 week high of $3.68. The stock has a 50-day moving average of $1.45 and a 200-day moving average of $1.50. The company’s market cap is $77.4 million.
DragonWave Inc (TSE:DWI) is in the business of developing broadband wireless backhaul and pseudowire equipment.
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