PowerFleet setup for 2024 ‘attractive,’ says Lake Street

Lake Street believes PowerFleet shares are “set up to meaningfully outperform in 2024,” the analyst tells investors, citing the firm’s view of what the model can be after the MiX Telematics merger closes and the stock gets rerated more in line with a SaaS-based model. The firm, which adds that it is “firmly in the bull camp,” reiterates a Buy rating and $4 price target on PowerFleet shares.