Craig-Hallum initiated coverage of PowerFleet with a Buy rating and $9 price target. The firm sees the merger with Mix Telematics as a huge growth driver for FY24 and beyond, not only showing huge upside from a SaaS standpoint, but a “one plus one equals three” scenario forming from the company’s business, the analyst tells investors in a research note.
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- PowerFleet price target raised to $7 from $4 at Lake Street
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