Kornit Digital price target raised to $30 from $22 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Kornit Digital (KRNT) to $30 from $22 and keeps an Overweight rating on the shares after its Q1 earnings beat. Confidence in the Kornit story continues to build, with impressions growing 10% Y/Y, Apollo ramping quickly, adjusted EBITDA margins expanding, and most importantly, with annual recurring revenue having the potential to reach 20%, the analyst tells investors in a research note.