Franklin Wireless initiated with a Buy at Lake Street

Lake Street initiated coverage of Franklin Wireless with a Buy rating and $6 price target While the firm acknowledges the hockey stick-like ramp during COVID is “unlikely to repeat,” it thinks Franklin Wireless can benefit from the growing mobile hotspot market and that demand can be driven by hybrid operations, the need for reliable backup internet at home, and general demand for mobile connectivity. Franklin’s position as a lower-cost provider and its U.S.-based headquarters “position it to gain traction in this market,” the analyst tells investors.