Lake Street assumed coverage of Quantum Corp (QMCO) with a Buy rating and $8 price target. Quantum’s LTO Consortium membership alongside IBM (IBM) and HPE (HPE), density-leading Scalar i7 RAPTOR tape libraries, and unique end-to-end data lifecycle platform spanning hot flash through cold tape provide “defensible competitive positioning” in a tape storage market growing at a 6%-10% compound annual growth rate to 2030, the analyst tells investors.
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