Napco Security price target raised to $39 from $34 at Needham

Needham analyst James Ricchiuti raised the firm’s price target on Napco Security to $39 from $34 and keeps a Buy rating on the shares. The company’s "strong" Q2 results underscore the secular growth drivers underpinning its business as it enters what is normally the seasonally strong second half of the fiscal year, the analyst tells investors in a research note. Despite the challenging supply chain environment, Napco Security delivered "impressive" bottom-line upside in a challenging supply chain environment, and its operating margin can move even higher over the next 12-18 months, the firm added.