Penguin Solutions initiated with an Outperform at JMP Securities

JMP Securities initiated coverage of Penguin Solutions (PENG) with an Outperform rating and $23 price target Penguin is an enterprise artificial intelligence solutions innovator offering hardware, software, and services solutions across a variety of end-markets spanning advanced computing, integrated memory, and optimized light-emitting diode, the analyst tells investors in a research note. The firm sees the stock as an opportunity for long-term capital appreciation. There are several fundamental aspects to Penguin that will fuel long-term upside in the stock, contends JMP.