Impinj price target raised to $118 from $79 at Lake Street

Lake Street raised the firm’s price target on Impinj to $118 from $79 and keeps a Buy rating on the shares after Impinj reported in line with the preliminary numbers announced on January 16 and announced it has completed a 10% headcount reduction in part to streamline its cost structure. The firm believes the “strong” results and “solid” Q1 outlook should help ease investors around previous inventory destocking issues, the analyst said. While shares have climbed 26% in the last month, the firm believes “there is still room for shares to churn higher,” the analyst added.