Impinj, Inc. Message Board

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Technology Stocks : Impinj, Inc.

PI 163.58

-0.2%

11:55 AM EST

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To: Cooters who wrote (65)	1/19/2021 10:16:53 AM
From: Cooters	of 479

UPDATE: Impinj Inc (PI) PT Raised to $53 After Preannouncement but Morgan Stanley is not Ready to Upgrade January 19, 2021 2:18 AM EST Morgan Stanley analyst Craig Hettenbach raised the price target on Impinj Inc (NASDAQ: PI) to $53.00 (from $38.00) after the company pre-announced revenue upside to the December quarter. Management is now expecting revenue to exceed $36mn, significantly above the guidance midpoint of $27.5mn. Following the preannouncement, the company noted at a conference that Endpoint ICs revenue grew q/q and y/y, exceeding expectations while systems revenue outperformed and revenue grew sequentially despite inlay partners reducing inventory. The analyst reiterated an Equalweight rating, stating "It's encouraging to see a strong rebound in Q4 after substantial weakness in Q2 and subdued performance in Q3. While the company should benefit from improving demand in 2021, tight supply chain conditions more broadly across semis could represent a swing factor around customer inventory fluctuations. We raise our PT to $53 from $38, reflecting an increase in estimates and higher multiple." He went on to state "We are Equal-weight PI, with the stock already trading slightly above our new PT."

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