Napco Security Technologies, Inc. (NSSC) PT Raised to $52 at Needham & Company

Needham & Company analyst James Ricchiuti raised the price target on Napco Security Technologies, Inc. (NASDAQ: NSSC) to $52.00 (from $50.00) while maintaining a Buy rating.

The analyst commented, "We hosted mgmt in a series of meetings with investors this week and came away more confident of NAPCO’s ability to execute on its long-term growth model. While discussions in the meetings steered clear of updates around the recently ended FQ1, we believe the positive trends that characterized the business in FQ4 -- namely, favorable sell-through, robust recurring revenue underpinned by secular growth drivers in the core commercial alarms and connectivity business, a recovery in the school security market -- give us greater confidence in the potential for upside to numbers in F22 and F23. NSSC appears to be navigating the challenging supply chain environment. We are maintaining our estimates, which we acknowledge are conservative given current trends, and will be review after the FQ1 report. Reiterate Buy."

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