Impinj price target raised to $225 from $180 at Piper Sandler

Piper Sandler analyst Harsh Kumar raised the firm’s price target on Impinj to $225 from $180 and keeps an Overweight rating on the shares. The firm is very enthused with current fundamentals, but notes that the stock has had a huge move over the last six months and the last month in particular, and while Impinj should be able to put up “great results,” the stock move is likely to make it difficult for investors to be incremental near-term buyers, the analyst says. Piper continues to believe in the fundamentals over the next 12+ months, but sees the stock’s valuation as stretched at current levels.