Evercore ISI Starts Impinj Inc (PI) at Outperform, 'First 5th Tectonic Shift Play'

(Updated - April 16, 2024 5:05 AM EDT)

Evercore ISI analyst Mark Lipacis initiates coverage on Impinj Inc (NASDAQ: PI) with a Outperform rating and a price target of $160.00.

The analyst comments "We view PI as Tectonic Shift play, notably as a key supplier into the emerging IoT market which we expect to grow to 10s of billions of units. We expect its Op Margins to expand 2,500bps over the next 10 years. Amid a low RAIN RFID TAM penetration, we believe PI presents one of the best growth stories in the analog/MCU complex."

For an analyst ratings summary and ratings history on Impinj Inc click here. For more ratings news on Impinj Inc click here.

Shares of Impinj Inc closed at $119.98 yesterday.

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