Roth Capital analyst Scott Searle raised his price target for Sequans Communications to $3.00 from $2.50 and keeps a Buy rating on the shares. The "knee jerk reaction" the company's Q2 results will be negative with a headline miss and the delay of a strategic deal, Searle tells investors in a research note. The analyst, however, says Sequans' product sales were 15% above expectations and up 49% sequentially, masked by "Other" revenue which is "project based and lumpy." Further, the key strategic deal has "slightly pushed to the right" with advanced discussions that are potentially expanding the scope and license payment, contends Searle. He believes the company's Internet of Things fundamentals are accelerating.