Inogen upgraded to Buy from Hold at Needham

Needham upgraded Inogen (INGN) to Buy from Hold with a $12 price target The firm says the new management team has made “significant progress with a turnaround” which is not reflected in the share price. Inogen has returned to positive mid-single digit revenue growth, and there is potential for its growth to accelerate in the second half of 2025 and 2026, the analyst tells investors in a research note. Needham believes the company has also made progress in improving its margins, and management has taken steps to diversify into a broader respiratory device business, providing it with “several new growth drivers.” It finds the stock undervalued at current levels.