Zebra Technologies (ZBRA) PT Raised to 'Street High' $445 at Needham & Company Into EPS

February 3, 2021 6:34 AM EST
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Price: $491.37 -1.64%

Rating Summary:
    11 Buy, 5 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 20 | Down: 24 | New: 32
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Needham & Company analyst James Ricchiuti raised the price target on Zebra Technologies (NASDAQ: ZBRA) to a "Street High" $445.00 (from $340.00) while maintaining a Buy rating.

The analyst commented, "We remain constructive on shares of Zebra ahead of next week's earning release (prior to the market on February 11th). We believe the strong growth in holiday on-line sales and ongoing investments by e-commerce and logistics customers, as well as traditional retailers for omni-channel and curbside-pickup and BOPIS (buy-online, pickup-in-store) applications provide a favorable backdrop for Zebra in 2021. Recent earnings reports and upside preannouncements from competitors as well as strong results from logistics customers bode well for a beat-and-raise Q4. We believe the company's large-projects pipeline remains healthy with improving demand likely in the SMB market. With solid upside potential to our 2021 estimates, we reaffirm our Buy rating and raise our price target to $445 from $340, which 28x our preliminary 2022 NG EPS estimate."

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