SGH price target raised to $27 from $24 at Needham

Needham raised the firm’s price target on SGH to $27 from $24 and keeps a Buy rating on the shares. The company posted a “solid” Q2 result as its Intelligent Platform Solutions segment inflects off the Q1 bottom, and with trends playing out in-line with the management’s “well-communicated” recovery expectations for the second half of the year, the analyst tells investors in a research note. The firm adds that it is confident the bottom is in the past and that FY25 growth is intact.