Digi International price target raised to $63 from $46 at Piper Sandler

Piper Sandler analyst James Fish raised the firm’s price target on Digi International (DGII) to $63 from $46 and keeps a Neutral rating on the shares. While admittedly the firm had concerns heading into the print given its inputs, Digi showed strong execution in the quarter and raised guide by more than the upside. Digi is showing a benefit from AI modernizations, but Piper remains on sidelines given valuation / preference for others in the space.