PowerFleet price target raised to $15 from $10 at Barrington

Barrington analyst Gary Prestopino raised the firm’s price target on PowerFleet (AIOT) to $15 from $10 and keeps an Outperform rating on the shares after the company held an analyst day that the firm says “gave a deep dive into growth opportunities” from legacy PowerFleet and the acquisitions of both Mix Telematics and Fleet Complete. The firm, which says it believes that PowerFleet’s long-term growth outlook is “very positive” driven by its combination with Mix Telematics and Fleet Complete, notes that its FY25 and FY26 adjusted EBITDA estimates are $72.6M and $129.4M, respectively.