Needham raised the firm’s price target on SGH to $30 from $27 and keeps a Buy rating on the shares. The company’s Q3 results and guidance were “solid” amid “steady” execution in Intelligent Platform Solutions, though the visibility on this segment remain an issue, the analyst tells investors in a research note. SGH management’s conservative approach is prudent, and its strategic actions to bolster the Services business should pay off in time, the firm added.
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