Inseego price target raised to $15 from $14 at TD Cowen

TD Cowen raised the firm’s price target on Inseego (INSG) to $15 from $14 and keeps a Hold rating on the shares. The firm noted they announced last night the exchange of all $42M of its preferred stock into $26M of cash, notes, and common stock. In capturing a 38% discount on the preferreds, the company immediately creates $16 mil of equity value.