Extreme Networks price target raised to $23 from $20 at Needham

Needham analyst Alexander Henderson raised the firm’s price target on Extreme Networks to $23 from $20 and keeps a Buy rating on the shares. The company will likely outperform revenue forecasts already calling for double digit growth and see expanding margins as it benefits from improved availability as the economy slips toward a potential recession, the analyst tells investors in a research note. As the economy slows, components are becoming more available, allowing Extreme to ship more product, Henderson adds.