In a report released today, Lance Vitanza from TD Cowen maintained a Hold rating on KORE Group Holdings, with a price target of $3.00.
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Lance Vitanza has given his Hold rating due to a combination of factors including KORE Group Holdings’ performance in the second quarter, which surpassed expectations with balanced growth in both Connectivity and Solutions. This growth was attributed to new customer acquisitions, gains in the existing customer base, and a better product mix.
Despite the positive performance, management decided to maintain their guidance, with no changes to the revenue and EBITDA estimates for the second half of the year. Additionally, free cash flow is expected to be more significant in the fourth quarter due to seasonal factors. These elements combined suggest a stable outlook, justifying the Hold rating.
In another report released today, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $2.50 price target.