Power Solutions price target raised to $22 from $10 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Power Solutions to $22 from $10 and keeps a Buy rating on the shares. The firm says the company’s “clear financial inflection underway” was again illustrated by its “stellar” Q2 report. While revenue was just shy of expectations, Power Solutions posted another quarter of record gross margin, which led to a substantial earnings beat, the analyst tells investors in a research note. Hallum notes the company has secured several major multi-year sales agreements with large customers for data center and hyperscale applications.