Analyst James Ricchiuti of Needham maintained a Buy rating on Kornit Digital (KRNT – Research Report), reducing the price target to $28.00.
James Ricchiuti has given his Buy rating due to a combination of factors that highlight Kornit Digital’s strategic positioning and potential for growth. Despite the unexpected announcement of a 17% tariff on products exported from Israel, the company’s CEO, Ronen Samuel, has indicated that there are no immediate plans to increase prices. This decision reflects an understanding of the fluid nature of the situation and the ongoing discussions between Israel and the U.S. administration.
Furthermore, Kornit Digital’s digital textile printing equipment is well-suited for deployment in the U.S., particularly for short-to-intermediate production runs. This capability positions the company to benefit from a potential shift towards re-shoring manufacturing processes. These strategic advantages contribute to the positive outlook and justify the Buy rating.
Ricchiuti covers the Technology sector, focusing on stocks such as TTM Technologies, 3D Systems, and Benchmark Electronics. According to TipRanks, Ricchiuti has an average return of 1.8% and a 43.20% success rate on recommended stocks.