Loop Capital analyst Ananda Baruah raised the firm’s price target on Penguin Solutions (PENG) to $35 from $30 and keeps a Buy rating on the shares. The company is seeing early signs of commercial AI adoption, booking five new customers this quarter after booking three in the February quarter, the analyst tells investors in a research note. On sovereign AI, Penguin has also been brought into a large opportunity in the Middle East, although in the very early stages, the firm added.
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.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PENG:
- Penguin Solutions management to meet virtually with Needham
- Smart Global’s Penguin Solutions Shines in Q3 Earnings
- Nvidia hits $4T market cap, Merck acquires Verona Pharma: Morning Buzz
- Penguin Solutions price target raised to $21 from $18 at JPMorgan
- Penguin Solutions: Buy Rating Affirmed Amid Growth Potential and Strategic Partnerships