BUZZ-DragonWave Inc: CIBC cuts price target

Wed Jan 14, 2015 1:58pm EST
 
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** Canadian wireless networking equipment maker's shares down 6.5 pct at C$1.15; U.S.-listed shares down 6.9 pct at $0.95

** Dragonwave reports loss of 5 cents/share, in line with analysts' average estimate, late on Tuesday; Revenue of $47.3 mln above estimate of $46.10 mln

** CIBC cuts price target to C$2.75 from C$3; analysts reduce Q4 revenue forecast to $52 mln from $60 mln

** Up to Tuesday's close, company's Toronto-listed stock had fallen 25 pct in past 12 months, while U.S.-listed stock had fallen 33 pct