Mesa Labs price target raised to $94 from $83 at Wells Fargo

Wells Fargo raised the firm’s price target on Mesa Labs (MLAB) to $94 from $83 and keeps an Equal Weight rating on the shares. The firm notes the company posted a solid beat on Q3 revenue and adjusted EBITDA, with strong margin expansion despite foreign-exchange headwinds. With numbers moving up, leverage down and management taking more shareholder-friendly steps, there’s more room for valuation to re-rate, in Wells’ view.