In a report released today, Amit Dayal from H.C. Wainwright assigned a Buy rating to Pointer Telocation Ltd (NASDAQ: PNTR), with a price target of $24.50. The company’s shares opened today at $14.20.
Dayal said:
“We believe that, if successfully implemented in Israel, the technology could then be extended around the world to be used as a tool to reduce traffic accidents by predicting effects of varied driving behavior. According to the press release, MSFT plans to eventually make this service available to customers worldwide through its AZURE Data Center. We are not making any changes to our model at present, but believe that this collaboration could provide a significant upside to the story. Valuation. We believe the company’s repositioning as an MRM pure play has provided strategic clarity for management to focus on a combination of new product introductions and M&A activity to increase market share.”
According to TipRanks.com, Dayal is a 2-star analyst with an average return of 1.3% and a 42.6% success rate. Dayal covers the Consumer Goods sector, focusing on stocks such as Superconductor Technologies Inc, Pacific Ethanol, and Enphase Energy.
Currently, the analyst consensus on Pointer Telocation Ltd is Strong Buy and the average price target is $21.30, representing a 50.0% upside.
In a report issued on May 16, B.Riley FBR also reiterated a Buy rating on the stock with a $20 price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $19.65 and a one-year low of $9.60. Currently, Pointer Telocation Ltd has an average volume of 35.75K.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Pointer Telocation Ltd. engages in mobile resource management products and services. It operates through the following segments: Mobile Resource Management (MRM), Roadside Assistance Services, and Cellocator. The MRM segment offers asset tracking services, fleet management services, and stolen vehicle retrieval services.
