KeyBanc raised the firm’s price target on Cognex (CGNX) to $70 from $50 and keeps an Overweight rating on the shares following quarterly results. The firm is also increasing its estimates to reflect the company’s solid execution and above-consensus Q1 outlook. KeyBanc is particularly impressed by Cognex’s strong progress on OpEx efficiencies and management’s expectation for 25% adjusted EBITDA margins by the end of FY26.
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