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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on PWFL: