Penguin Solutions price target raised to $54 from $32 at Rosenblatt

Rosenblatt raised the firm’s price target on Penguin Solutions (PENG) to $54 from $32 and keeps a Buy rating on the shares after hosting meetings with management. CEO Kash Shaikh’s plan is to expand the company’s 40-plus years memory subsystems experience combined with AI system software and services to deliver a full platform solution is impressive, the analyst tells investors in a research note. Rosenblatt upped the price target to reflect the AI market’s increasing need for optimized memory subsystems and how Agentic AI has accelerated corporations adoption of internal AI systems.