Climb Global price target raised to $60 from $40 at Barrington

Barrington analyst Vincent Colicchio raised the firm’s price target on Climb Global to $60 from $40 and keeps an Outperform rating on the shares, noting that the company’s non-GAAP EPS, adjusted EBITDA and net sales beat the firm’s forecast. The firm, which points out that it believes it has "the only sell-side analyst covering the stock," raised its price target due to its decision to use 2024 adjusted EBITDA as the basis of its valuation and the improvement in the revenue growth outlook for 2023 and 2024.