Inseego price target raised to $12 from $6 at Roth MKM

Roth MKM raised the firm’s price target on Inseego to $12 from $6 and keeps a Neutral rating on the shares. The analyst cites the company’s announcement that it has successfully restructured its outstanding $162M convertible note debt. This has been a major overhang on the stock, and the action resolves roughly 80% of the outstanding instrument, with a combination of debt and equity with minimal dilution, the firm tells investors in a research note.