B. Riley upgraded Extreme Networks (EXTR) to Buy from Neutral with a $14 price target. The analyst cites the normalization of channel inventory and improving demand for the upgrade. TD Synnex, a leading IT distributor that accounted for 18% of Extreme’s revenue in fiscal 2023, sounded incrementally upbeat during its Q1 earnings call in late March, the analyst tells investors in a research note. The firm believes Extreme’s risk/reward is compelling at current levels.
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