Cantaloupe price target raised to $13 from $11 at Benchmark

Benchmark raised the firm’s price target on Cantaloupe (CTLP) to $13 from $11 and keeps a Buy rating on the shares after Reuters reported yesterday that the company had engaged investment bankers to explore strategic options, including a possible sale. The firm believes such an exploration makes sense as the value of Cantaloupe’s integrated payment solutions focused on the self-service market, its strong recurring cash flow, and its expanding margins have yet to be reflected in its share price and the stock “remains undervalued,” the analyst tells investors.