Canaccord Genuity initiated coverage on CalAmp CAMP with a Buy rating and a $13 price target.
Canaccord Genuity commented, "We forecast strong M2M market growth over the next decade across a wide range of M2M vertical markets. We believe CalAmp's deep vertical expertise and M2M hardware offerings integrated with its cloud-based MRM software platform should allow
CalAmp's Wireless DataCom business to grow faster than our 16% M2M hardware revenue CAGR forecast. Also, we believe CalAmp's Satellite
division sales to EchoStar (Dish Network) have stabilized, and recent product refreshes in this business should drive improved margins."
CalAmp closed at $8.36 on Friday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in