Kimball Electronics price target raised to $36 from $34 at Cantor Fitzgerald

Cantor Fitzgerald analyst Derek Soderberg raised the firm’s price target on Kimball Electronics to $36 from $34 and keeps an Overweight rating on the shares. The Kimball automotive story is among the best growth opportunities in the electronics manufacturing services space today, as it has effectively built a competitive moat in the areas of automotive steering and braking, the analyst tells investors in a research note. Over the medium term, Cantor believes Kimball’s braking solutions have the potential to add an incremental $500M+ to annual revenue.