Benchmark starts Smith Micro at Buy on ‘dominant category positions’

As previously reported, Benchmark analyst Matthew Harrigan initiated coverage of Smith Micro with a Buy rating and $5 price target. Smith Micro is "admirably positioned to address an economically resilient family safety opportunity," said Harrigan, who cites its "dominant category positions" with the three tier one U.S. mobile carriers. He forecasts Smith Micro to generate a near 30% sales growth compound annual growth rate from 2022 to 2026, noted the analsyt.