UPDATE: D.A. Davidson Reiterates Neutral Rating, Lowers PT on RadiSys Corporation

In a report published Wednesday, D.A. Davidson & Co. reiterated its Neutral rating on RadiSys Corporation RSYS, but slightly lowered its price target from $4.00 to $3.40. D.A. Davidson noted, “Maintaining NEUTRAL rating. While the uncertain macro environment is clearly weighing on the near-term, we are also concerned about what the refocusing steps will lead to. The ramp of LTE will provide potential upside, but we need to see substantial growth in the core business before growing more positive. Given the uncertain outlook, we are adjusting our estimates and price target. Our new target of $3.40 (previously $4) is based on 2x tangible book value.” RadiSys Corporation closed on Tuesday at $2.94.