Wolfe Research upgraded Zebra Technologies to Outperform from Peer Perform with a $337 price target. The analyst sees potential upside to the company’s revenue growth guidance for the year and believes the stock could see multiple expansion over the next 12-18 months as growth accelerates. The firm believes Q1 marks a transitional quarter for the group where late cycle leadership hands off to improving cyclical momentum. This could break extreme crowding in the “Mag-Industrials,” meaning better risk/reward in higher beta stocks, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ZBRA:
- Zebra Technologies to unveil new AI capabilities at Google Cloud Next
- Estee Lauder upgraded, Petco downgraded: Wall Street’s top analyst calls
- Zebra Technologies initiated with an Equal Weight at Barclays
- Zebra Technologies initiated with a Hold at Truist
- Zebra Technologies management to meet with Stephens