Extreme Networks price target raised to $30 from $23 at Rosenblatt

Rosenblatt raised the firm’s price target on Extreme Networks to $30 from $23 and keeps a Buy rating on the shares after having hosted an “upbeat” fireside chat at the “Rosenblatt Tech Summit: Age of AI” event with Extreme’s CFO, CTO and other management. The firm, which is “encouraged” that orders are up sequentially in fiscal Q4 and expects orders to return to positive year-over-year growth within two or three quarters, notes that it is introducing FY25 estimates that are above consensus, but “slightly below the company’s guidance for the sake of conservatism.”