Napco Security price target raised to $36 from $27 at Lake Street

Lake Street raised the firm’s price target on Napco Security to $36 from $27 and keeps a Buy rating on the shares after having hosted the company’s CEO, CFO and VP of IR for virtual meetings and a fireside chat. While acknowledging the significant 55% move up shares have had since announcing fiscal Q1 results earlier this month, the firm came away feeling confident the excess inventory issues will not create significant headwinds in calendar 2024 and believing that Napco “remains on a path of sustained top and bottom line growth,” the analyst tells investors.