iPower price target raised to $2.75 from $1.25 at Roth MKM

Roth MKM raised the firm’s price target on iPower to $2.75 from $1.25 and keeps a Buy rating on the shares. The company announced a number of meaningful partnerships to accelerate expanding its SuperSuite supply chain network, which should lead to new service customers, the analyst tells investors in a research note. iPower has also added a new manufacturing partner in Vietnam to lower product costs, diversify sourcing away from China, and reduce tariffs, the firm states, adding that it has turned more constructive on iPower’s positive operating leverage and the return to higher normalized revenue growth.