Analyst Joseph C Giordano from TD Cowen maintained a Buy rating on Zebra Tech (ZBRA – Research Report) and decreased the price target to $400.00 from $425.00.
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Joseph C Giordano has given his Buy rating due to a combination of factors including the manageable impact of tariffs and a conservative yet promising guidance from Zebra Tech’s management. Despite initial concerns about revenue and tariffs, the actual situation was not as severe as expected, and the company’s forward-looking assumptions appear to be cautious yet reasonable.
The management’s guidance reflects a conservative approach based on their current backlog and visible opportunities, with a new EPS guidance for 2025 that exceeds previous bearish estimates. Additionally, the company has strategies in place to mitigate tariff impacts, such as price adjustments, which are expected to be achievable. The potential for revenue growth remains, with either a resolution of tariff issues leading to high single-digit growth or a more severe macroeconomic impact. The updated price target reflects these considerations and suggests a valuation that aligns with the anticipated recovery of key markets.
In another report released today, Needham also maintained a Buy rating on the stock with a $325.00 price target.
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