Needham & Company Starts Zebra Technologies (ZBRA) at Buy

Needham & Company initiates coverage on Zebra Technologies (NASDAQ: ZBRA) with a Buy rating and a price target of $102.00.

Analyst James Ricchiuti commented, "We are initiating coverage of Zebra Technologies (ZBRA) with a Buy rating and $102 target price. Following the October 2014 acquisition of the Enterprise business of Motorola Solutions, ZBRA has become a category leader in barcode and RFID scanners, mobile computing devices, printers and related software and solutions. We believe ZBRA is uniquely positioned to benefit from the proliferation of sensors and connected devices driving the ongoing convergence of the physical and digital worlds in the retail, transportation & logistics, healthcare and manufacturing markets. ZBRA is on track to meet its long-term financial targets set at the time of the acquisition, including expanding adj. EBITDA margins to 18-20% and de-levering the balance sheet through an aggressive pay-down of debt that was taken on to fund the acquisition."

For an analyst ratings summary and ratings history on Zebra Technologies click here. For more ratings news on Zebra Technologies click here.

Shares of Zebra Technologies closed at $86.50 yesterday.

You May Also Be Interested In

• Primoris Services Corporation (PRIM) PT Lowered to $172 at Needham, Remains on Conviction List
• Berenberg Starts Alm Brand A/S (ALMB:DC) at Hold
• Jefferies Upgrades Friedrich Vorwerk Group SE (VH2:GR) to Hold