UPDATE: H.C. Wainwright Starts Boxlight Corporation (BOXL) at Buy

(Updated - December 13, 2021 6:37 AM EST)

H.C. Wainwright analyst Scott Buck initiates coverage on Boxlight Corporation (NASDAQ: BOXL) with a Buy rating and a price target of $4.00.

The analyst comments "We are initiating coverage of Boxlight Corporation with a Buy rating and a 12-month price target of $4.00 per share. Headquartered in Lawrenceville, GA, the company provides a full suite of education technology solutions aimed at improving student participation, engagement, and reducing educator fatigue. Meaningful organic growth should be complemented by additional acquisitions providing cross-selling opportunities with new products, new geographies, and leveraging distribution agreements. As scale continues to improve, quickly, we expect revenue growth and margin expansion to drive significant operating leverage and consistent profitability as early as 2023. This, in our view, should more than offset any residual overhang in BOXL shares due to the outstanding convertible preferred shares as well as recent weakness among small cap technology stocks. As the company demonstrates its ability to execute on its profitable growth strategy, we believe BOXL shares should begin to move towards our $4.00 price target."

For an analyst ratings summary and ratings history on Boxlight Corporation click here. For more ratings news on Boxlight Corporation click here.

Shares of Boxlight Corporation closed at $1.47 yesterday.

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