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Craig-Hallum upgrades Napco Security to Buy from Hold

As previously reported, Craig-Hallum analyst Jeremy Hamblin upgraded Napco Security (NSSC) to Buy from Hold with a $40 price target after an impressive Q4 beat with momentum carrying into FY26. The demand environment has markedly improved following the noise from tariffs with Equipment Revs normalizing while inventories have been significantly reduced. Most importantly, the company saw high margin Recurring Service Revs inflect higher in Q4 with the highest sequential growth in six quarters and momentum continuing through July with annualized RSR accelerating from Q3 and implying likely upside for Q1, the firm says.

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