Kornit Digital price target raised to $17 from $15 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Kornit Digital (KRNT) to $17 from $15 and keeps an Equal Weight rating on the shares. The firm says the company’s results demonstrate clear progress, with solid near-term execution, accelerating impressions growth, and continued shift to ratable revenue. But growth is not inflecting quite yet, Morgan Stanley says, adding that it still thinks this happens in 2027 and beyond. As such, valuation is likely capped, keeping the firm on the sidelines, albeit with a positive risk/reward skew.