Imperial Capital analyst Jeff Kessler lowered his price target for Flir Systems to $51 and keeps an In-Line rating on the shares following the company's Q3 results. He notes revenue and earnings missed expectations for the quarter. While Kessler is "very confident" in Flir's capabilities and technologies, at the current valuation of 13.8 times his 2019 EBITDA estimate, he prefers waiting for any combination of new Government project wins or acceleration of high-margin orders in the Industrial or Commercial segments before getting more constructive on the shares.