UPDATE: FBN Lowers PT on Quantum to $3.10

FBN is out with its report today on Quantum (NYSE: QTM), lowering its PT from $3.25 to $3.10.

In a note to clients, FBN writes, "We retain our Sector Perform rating on QTM and reduce our price target from $3.25 to $3.10 following a disappointing FQ1 report and relatively weak guide."

Shares of QTM closed Wednesday at $3.13.