Fly News Breaks for December 17, 2019
Dec 17, 2019 | 05:42 EDT
Needham analyst James Ricchiuti upgraded Impinj to Buy from Hold with a $32 price target. The analyst expects the company to benefit in 2020 from the launch of the new M700 tag integrated circuits and continued inroads by RFID in retail apparel. Impinj can demonstrate mid-teens growth and improving earnings as the RFID market continues to show healthy growth, Ricchiuti tells investors in a research note. Further, the shares are off more than 20% over the past three months, providing a good entry point for investors looking out 12 months, adds the analyst.
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