H.C. Wainwright analyst Scott Buck initiated coverage of Richtech Robotics (RR) with a Buy rating and $3.50 price target The company designs, develops, and distributes advanced robotic solutions to a variety of industry verticals including hospitality, healthcare, and light industrial, the analyst tells investors in a research note. The firm says favorable secular tailwinds driven by improving technologies and labor shortages, coupled with a favorable customer return on investment following the transition to a robot-as-a service model, should drive increasing adoption of service robots over the next several years. It sees an attractive entry point ahead of more positive news flow from Richtech.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RR:
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue