Inseego price target raised to $3.50 from $2.50 at TD Cowen

TD Cowen raised the firm’s price target on Inseego to $3.50 from $2.50 and keeps a Market Perform rating on the shares. The firm said the company beat 4Q revenue and EBITDA guidance despite the anticipated sunsetting of 4G legacy products. The company’s 1Q revenue guidance is slightly below prior estimates while EBITDA guidance is above.