Richtech Robotics initiated with a Buy at Lake Street

Lake Street initiated coverage of Richtech Robotics (RR) with a Buy rating and $3 price target The firm views Richtech Robotics as “a solid way to play the emerging advanced robotic market,” the analyst tells investors. While the company is pivoting its revenue model to a subscription-based recurring format from outright product sales, the firm sees this positioning it to see sustained, double-digit growth, with “SaaS-like margins” of over 70% and “meaningful EPS power longer-term,” the analyst added.