Byrna Technologies price target raised to $40 from $35 at Roth Capital

Roth Capital analyst Matt Koranda raised the firm’s price target on Byrna Technologies (BYRN) to $40 from $35 and keeps a Buy rating on the shares. The company’s Q3 sales were in line with Byrna’s pre-announcement from September, with solid profit flow-through on good operating expense control, driving an adjusted EBITDA beat vs. consensus and Roth estimates, the analyst tells investors in a research note. The management’s demand commentary was encouraging, as Byrna has seen substantial site traffic increases at byrna.com in August and September, which appears to be sustaining into October, Roth added.