Maxim lowered the firm's price target on TruGolf to $1 from $2 and keeps a Buy rating on the shares. The firm is tempering its 2025 estimates due to slower than expected revenue ramp and roll out of initial franchise locations, but continues to project strong profitable growth in 2026, the analyst tells investors in a research note. Maxim adds that TruGolf balance sheet is solid and its existing capital is sufficient for the forseeable future, excluding potential M&A.
