Roth MKM keeps a Buy rating and $9 price target on Lantronix after hosting its CEO for a non-deal roadshow. The firm has come away with greater confidence in the company’s outlook for FY24 and FY25, improved linearity, and increasing focus into key verticals – Enterprise, Smart City and Auto, the analyst tells investors in a research note. The latter item of the company’s simplified message around “compute and connect” is underappreciated by the Street, and the firm expects multiple expansion in Lantronix shares beyond the current 7-times forward earnings, Roth MKM added.
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