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Fly News Breaks for December 22, 2017
CAMP
Dec 22, 2017 | 07:49 EDT
Canaccord analyst T. Michael Walkley said CalAmp reported strong Q3 results as its ELD products are driving an upgrade cycle. He believes its pipeline is strong with SaaS-based asset management deals. The analyst said the company is well positioned to drive sales over the next few years with an increasing list of new customer wins, steady growth of higher margin recurring revenue sales, and solid contribution from the LoJack channel. Walkley reiterated his Buy rating and raised his price target to $27 from $26 on CalAmp shares.
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