In a report released today, Ryan Koontz from Needham reiterated a Buy rating on Extreme Networks, with a price target of $24.00.
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Ryan Koontz has given his Buy rating due to a combination of factors that highlight Extreme Networks’ promising growth prospects. One of the main reasons is the strong momentum the company is experiencing with the rollout of its Platform ONE, which is expected to significantly enhance its market position. Additionally, the rapid adoption and sales of Wi-Fi 7 technology are contributing positively to the company’s growth outlook.
Furthermore, changes in the partner landscape, particularly those influenced by competitors like Cisco, are seen as advantageous for Extreme Networks. These strategic initiatives and market dynamics have reinforced Koontz’s confidence in the company’s future performance, leading to the reiteration of the Buy rating and a target price of $24.
In another report released on November 19, Bank of America Securities also initiated coverage with a Buy rating on the stock with a $24.00 price target.