GigaCloud price target raised to $33 from $26 at Lake Street

Lake Street raised the firm’s price target on GigaCloud (GCT) to $33 from $26 and keeps a Buy rating on the shares after Q2 results exceeded expectations. While near-term margin headwinds are expected, the firm believes the company is successfully navigating a volatile macro environment given the strong Q2 performance and that the stock can move higher as results improve and investors gain greater appreciation for the business model.