Truist initiated coverage of Zebra Technologies with a Hold rating and $300 price target. Growing adoption of Zebra’s products should support 5-7% organic growth and improved adjusted EBITDA margins, though 2024 sales and earnings are forecast to be depressed, the analyst tells investors. The firm’s Hold rating reflects a belief that the market “fully appreciates the worst is behind” with the stock up 18% since the earnings print, the analyst added.
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