PowerFleet price target raised to $11 from $10 at Northland

Northland raised the firm’s price target on PowerFleet (AIOT) to $11 from $10 and keeps an Outperform rating on the shares after the company reported Q3 results that beat the firm’s revenue and adjusted EBITDA estimates. The firm likes the “solid execution” in Q3, multiple new high-value customer wins, strong traction with its AI camera solutions, and continued progress on its cost savings initiatives, the analyst tells investors.