Analyst George Gianarikas of Canaccord Genuity maintained a Buy rating on Lsi Industries (LYTS – Research Report), reducing the price target to $22.00.
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George Gianarikas has given his Buy rating due to a combination of factors including LSI Industries’ strong management team and strategic acquisitions. Despite a challenging market environment, LSI has demonstrated resilience through its experienced leadership, which is crucial in navigating the current economic variability. The company’s recent acquisitions, such as EMI and Canada’s Best, are expected to drive synergistic value and contribute to long-term growth.
While the recent quarter showed mixed results, with some weaknesses in margins and the Lighting segment, there were notable positives such as the 15% organic growth in the Display Solutions segment. Additionally, LSI’s focus on domestic production and components, along with prudent capital allocation, positions it well for future success. The adjusted price target of $22 reflects a valuation that aligns with industry standards, supporting the Buy rating as LSI continues to reward its shareholders through strategic growth initiatives.
According to TipRanks, Gianarikas is an analyst with an average return of -12.5% and a 31.02% success rate. Gianarikas covers the Industrials sector, focusing on stocks such as Generac Holdings, Arq Inc, and Surf Air Mobility, Inc..
In another report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $30.00 price target.