Impinj price target raised to $230 from $180 at Piper Sandler

Piper Sandler raised the firm’s price target on Impinj to $230 from $180 and keeps an Overweight rating on the shares. Avery Dennison (AVY) reported its Q3 earnings. The firm monitors Avery as one of the key intelligence label suppliers and channel partners for Impinj (PI). On the earnings call, Avery management highlighted the details of its recently announced partnership with Walmart (WMT), where the company will utilize its RFID technology to label food products. Piper views this as an extremely positive development for overall RFID intelligence labels adoption and expects Impinj to be a key beneficiary.