GigaCloud price target raised to $36 from $33 at Lake Street

Lake Street analyst Ryan Meyers raised the firm’s price target on GigaCloud (GCT) to $36 from $33 and keeps a Buy rating on the shares following what the firm calls “another strong quarter ahead of expectations.” The company is sitting on a large cash balance of $366.6M, which will allow it to make acquisitions that strengthen its portfolio, the analyst tells investors.