Why Did Canaccord Genuity Upgrade Calamp Crop’s Stock?

By Ryan Adsit

Canaccord Genuity analyst Michael Walkley upgraded Calamp Crop (CAMPResearch Report) to Buy today and set a price target of $12.00. The company’s shares closed last Monday at $4.66, close to its 52-week low of $3.70.

According to TipRanks.com, Walkley is a top 100 analyst with an average return of 13.0% and a 59.3% success rate. Walkley covers the Consumer Goods sector, focusing on stocks such as Telefonaktiebolaget LM Ericsson, Sequans Communications S A, and Adesto Technologies.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Calamp Crop with a $10.00 average price target.

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The company has a one-year high of $14.69 and a one-year low of $3.70. Currently, Calamp Crop has an average volume of 449.6K.

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CalAmp Corp. is a provider of Internet of Things (IoT) enablement solutions for a broad array of mobile and fixed applications serving multiple vertical markets worldwide. It offer solutions for mobile resource management and applications for the broader IoT market, enabling customers to optimize their operations by collecting, monitoring and efficiently reporting business-critical data and desired intelligence from high-value remote and often mobile assets. The company segments include Telematics System and Software and Subscription Services. CalAmp was founded in 1981 and is headquartered in Irvine, CA.