Roth Capital analyst Scott Searle raised the firm’s price target on Digi International (DGII) to $42 from $40 and keeps a Buy rating on the shares after the company announced that it would acquire Jolt. The “highly complementary” Jolt will operationally be combined with SmartSense, and the new combined entity will now offer a more robust cold chain, logistics and operational workflow solution versus competing market offerings, the analyst tells investors in a research note.
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Read More on DGII:
- Digi International Acquires Jolt Software for $145.5M
- Digi International acquires Jolt for roughly $145.5M in cash
- Digi International raises Q4 EPS view to 48c-52c from 47c-51c
- Digi International’s Earnings Call Highlights Growth and Challenges
- Digi International price target raised to $40 from $38 at Roth Capital