Vontier price target raised to $39 from $35 at Argus

Argus raised the firm’s price target on Vontier to $39 from $35 and keeps a Buy rating on the shares. he company had benefited from increased demand from gas station operators for EMV payment technology amid a mandate from credit card processors and it is now working to diversify the business through acquisitions that will support electric vehicle charging infrastructure and smart energy management, the analyst tells investors in a research note. Trends in digital workflows, the modernization of retail fueling infrastructure, the Biden administration’s clean energy focus, and secular trends in sustainability and ESG should provide a positive backdrop for Vontier, the firm contends.