Alliance Global Partners raised the firm’s price target on Gorilla (GRRR) to $27 from $16 and keeps a Buy rating on the shares after the company announced the award of two new contracts in Taiwan. This follows the pending award for a more than $400M contract over five years by a Southeast Asian country to implement a Smart Education Project. Furthermore, its partnership with BroadSat better positions the company to capitalize on its smart city, AI cybersecurity and connectivity pipeline, Alliance Global Partner says. The firm also points out that the company simplified its capital structure and has strengthened its balance sheet through the conversion of its preferred shares and the exercise of some warrants.
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