Vontier price target raised to $50 from $39 at Argus

Argus raised the firm’s price target on Vontier to $50 from $39 and keeps a Buy rating on the shares. The company had been hurt by a decline in revenue related to EMV payment technology, but it is diversifying its portfolio through acquisitions that will support electric vehicle charging infrastructure and smart energy management, the analyst tells investors in a research note. Vontier stands to benefit from trends in digital workflows, the modernization of retail fueling infrastructure, and the Biden administration’s focus on clean energy, the firm added.