Pacific Crest Starts Impinj Inc (PI) at Overweight
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Pacific Crest initiated coverage on Impinj Inc (NASDAQ: PI) with a Overweight rating and a price target of $24.
Analyst Brad Erickson said, "As a leader in item-level RFID tagging and reading, PI plays directly into retailers' needs to invest in omnichannel strategies. Impinj has a patented, end-to-end platform, two-thirds of its revenue is annuity in a hugely under-penetrated market, and it has multiple upside drivers. Initiating at Overweight with a $24 target."
Shares of Impinj Inc closed at $19.97 yesterday.
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