William Blair analyst Matthew Pfau initiated coverage of Napco Security Technologies with an Outperform rating and no price target. With the company’s recurring revenue transition "in full swing" and its margins set to improve, the stock setup looks favorable, the analyst tells investors in a research note. A large market opportunity combined with favorable market tailwinds should enable Napco to increase revenue in the mid- teens percentage over the next five years, says the firm. It sees 30% upside to the shares over the next year.
Published first on TheFly
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