Penguin Solutions price target raised to $32 from $30 at Rosenblatt

Rosenblatt raised the firm’s price target on Penguin Solutions (PENG) to $32 from $30 and keeps a Buy rating on the shares. The company’s fiscal Q2 report beat estimates and management upwardly revised its fiscal 2026 revenue growth target to 12% from 6%, the analyst tells investors in a research note. The firm says Penguin’s advanced computing business added five new customers as its non-hyperscaler customer list continues to grow. Rosenblatt sees this as important for “providing consistent profitable growth over time.”