PowerFleet price target raised to $10 from $8 at Raymond James

Raymond James raised the firm’s price target on PowerFleet (AIOT) to $10 from $8 and keeps an Outperform rating on the shares. The company’s Q3 results “showed demonstrable progress” against its strategic vision, including increasing large deal activity, a higher pro forma organic outlook, and incremental margins, the analyst tells investors in a research note. The firm came away “increasingly positive on the bull case” that the company can accelerate to above-industry growth.