Needham & Company Starts Kornit Digital Ltd. (KRNT) at Buy

Needham & Company initiates coverage on Kornit Digital Ltd. (NASDAQ: KRNT) with a Buy rating and a price target of $18.00, calling the company a fast-growing digital textile printing leader.

Analyst James Ricchiuti commented, "We are initiating coverage of Kornit Digital with a Buy rating and $18 PT. KRNT is a leading supplier of high-throughput digital direct-to-garment (DTG) printing systems and proprietary consumables. The market for KRNT’s equipment, which primarily serves the fast-growing global T-shirt and fast-fashion markets, is in the early stages of transitioning from older analog screen-printing technology to digital printing. KRNT has been driving this transition with a broad portfolio of printers and environmentally friendly inks recently expanded to include digital roll-to-roll (R2R) printers targeting the rotary screen printing market. We believe KRNT can grow in excess of 30% annually in the next several years, with improving profitability as its installed base grows and sales of its ink and related consumables accelerate.

For an analyst ratings summary and ratings history on Kornit Digital Ltd. click here. For more ratings news on Kornit Digital Ltd. click here.

Shares of Kornit Digital Ltd. closed at $14.90 yesterday.

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