GigaCloud Technology (GCT) PT Raised to $35 at Roth/MKM

Roth/MKM analyst Matt Koranda raised the price target on GigaCloud Technology (NASDAQ: GCT) to $35.00 (from $28.00) while maintaining a Buy rating.

The analyst comments "We are refreshing our GigaCloud model after the company delivered a strong 4Q (core business accelerating across Service/Products), with a 1Q outlook ahead of our prior expectations. With the 10K now officially filed, we think this resolves a key overhang on the stock, although we would not be surprised to see price choppiness continue given recent insider filings to sell shares. We're maintaining our Buy on healthy fundamentals (organic growth acceleration, better-than-expected NH profit), which drive our estimates higher. PT to $35 (from $28)."

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