Impinj price target raised to $115 from $95 at Roth MKM

Roth MKM analyst Scott Searle raised the firm’s price target on Impinj to $115 from $95 and keeps a Buy rating on the shares. The company ported modest upside to positively pre-announced Q4 results with a modestly improving March 2024 outlook, the analyst tells investors in a research note. Elevated customer inventory levels are normalizing for endpoint ICs, while expanding use cases, new products, customer expansions and regulatory factors are crafting a backdrop for market acceleration, the firm added.