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Technology Stocks : Impinj, Inc.
PI 163.58-0.2%2:53 PM EST
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From: Cooters9/29/2021 9:40:43 AM
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Piper ups Impinj target to $75 after finding RFID in Walmart

Piper Sandler analyst Harsh Kumar raised the firm's price target on Impinj (PI) to $75 from $60 and reiterates an Overweight rating on the shares. The analyst visited a few local Walmart (WMT) stores in the southeastern United States as well as the Chicagoland area, and during his visits he noticed radio-frequency identification devices tags being used across the clothing department. Kumar believes this is tailwind for Impinj, "as it appears another major customer is moving toward a RFID tagging system." It also speaks to the size of the broader opportunity of RFID, Kumar tells investors in a research note. He says Walmart utilizing the technology, even just initially in clothing, is a "clear demonstration of the value of RFID more broadly."
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