Needham raised the firm’s price target on Lantronix (LTRX) to $5.50 from $4.50 and keeps a Buy rating on the shares. After meeting with the company’s CEO Saleel Awsare over recent weeks, the firm has increased confidence in the company’s nascent drone business, the analyst tells investors in a research note. Lantronix expects to see “several million” dollars in drone sales this year for its system-on-a-module solution, which processes visual and audio data and communicates with terrestrial networks, the firm added.
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