Zebra Technologies Shares Surge 16% on Q1 Earnings Beat and Raised Guidance
Zebra Technologies reported strong Q1 earnings, beating estimates, and raised its guidance. KeyBanc upgraded the company to Overweight from Sector Weight with a price target of $305. BNP Paribas and Citigroup adjusted their price targets, but maintained their ratings.
Zebra Technologies released its first-quarter earnings report, which exceeded estimates and included a raised guidance for the rest of the year. KeyBanc upgraded the stock to Overweight from Sector Weight, setting a price target of $305.
BNP Paribas adjusted its price target to $370 from $365, maintaining its Outperform rating. In contrast, Citigroup reduced its price target to $284 from $274, keeping its Neutral rating.
The Q1 earnings report showcased resilience in the face of global memory supply challenges, which are affecting several other companies in the industry. Zebra's success is seen as a bright spot for the automation sector, driving the stock upward.
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