Raymond James raised the firm’s price target on MiX Telematics (MIXT) to $12 from $8 and keeps an Outperform rating on the shares. Raymond James remains optimistic that Powerfleet (PWFL) will be able to drive greater expansion activity and while the growth improvements won’t be linear and could take some time, the firm has higher conviction around its cost synergy targets that should provide a baseline value creation opportunity absent meaningful growth acceleration.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on MIXT:
- PowerFleet and MiX Telematics receive shareholder approval for combination
- Powerfleet and MiX Telematics Receive Shareholder Approval for Proposed Business Combination
- MiX Telematics Acquisition by Powerfleet Gains Shareholder Approval
- MiX Telematics Acquisition by PowerFleet Subsidiary Approved
- MiX Telematics selected by Transport for Greater Manchester