Morgan Stanley analyst Erik Woodring initiated coverage of Kornit Digital (KRNT) with an Equal Weight rating and $27 price target. While Kornit is a beneficiary of the growing adoption of digital printing in the $1.5T global textiles market, a normalization of demand post-COVID and macro uncertainties driving a slowdown in apparel spending means the growth story is on pause, Woodring tells investors in a research note. The analyst adds that a partnership with Amazon (AMZN) has been a key growth driver, but is also a potential future risk.
Published first on TheFly
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