As previously reported, Craig-Hallum analyst Greg Palm upgraded Faro Technologies (FARO) to Buy from Hold with a price target of $75, up from $44. The analyst upgraded the stock citing the emergence of a long-awaited catalyst, as a strategic plan was unveiled by Faro management on the company's earnings call. The plan included a "continued emphasis on core markets in 3D metrology, AEC and public safety analytics, a new focus on software and solution offerings, a revision of its go-to-market strategy and elimination of the company's vertical structure and remodeling into a functional organizational structure." The analyst noted that, as a result of this and associated headcount reductions, Faro is targeting $40M in annual cost savings and sees EBITDA margins approaching 20% by FY21, targets which the analyst believes are attainable and create a "meaningful catalyst" for the stock.