Target $0.52, page-3

Pretty simple to work out the reason I'd have thought.
3 downgrades in a row and a new analyst.

Valuation and recommendation. We have revised our price target on YOW to $0.52 per share (from $0.93 previously). Our PT is based on an FY19E PER of 15.5x, which is set at a 10% premium to the Small Industrials average. We believe this is justified given YOW's projected growth rates. We have also changed our recommendation to Speculative BUY (from BUY). Our rating change reflects the guidance revisions and a slower ramp-up in sales, particularly in the US, which poses a risk in our view. That said, YOW is well capitalized and its current valuation isn't baking in much more success from here. While the investment proposition at this stage is not without risk, the risk-reward for investors is to the upside in our view.