Alliance Global Partners analyst Brian Kinstlinger raised the firm’s price target on Coda Octopus to $9 from $7.50 and keeps a Buy rating on the shares post the fiscal Q2 report. Stronger than expected demand for Coda’s Engineering Services coupled with a higher utilization of for rental products resulted in an earnings beat, the analyst tells investors in a research note. The firm says its higher multiple for shares reflects the early indications that the company’s revenue growth will reaccelerate in fiscal 2025.
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