Digi International price target raised to $70 from $54 at Roth Capital

Roth Capital raised the firm’s price target on Digi International (DGII) to $70 from $54 and keeps a Buy rating on the shares. The company solidly beat estimates and raised its outlook in Q1 with strength across the portfolio, including two recent acquisitions, producing annualized recurring revenue of $184 million, up 50% y/y, the analyst tells investors in a research note.