Always pay close attention to new stock price targets from firms, like Needham. While the firm won’t always get it right, price upgrades are still worth paying attention to.
Perhaps they’re seeing favorable industry trends that are impacting a covered stock. Maybe the financial health of a stock based on earnings or guidance is improving. Or, perhaps, they liked what they heard in a meeting with management. Whatever the case, it’s a good idea to look into the reasoning for a price upgrade.
With that in mind, let’s take a quick look at Needham’s new price targets.
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