Wall Street Just Turned Bullish on This Hot Technology Stock: Time to Buy?
Machine vision company (NASDAQ: CGNX) recently received an analyst rating upgrade from hold to buy from HSBC. In addition, the price target was raised from $40 to $52. There's no doubt Cognex's fortunes are improving (the company returned to revenue growth in its last quarter). But is it enough to follow HSBC's lead and take a bullish opinion on the stock?
I last discussed Cognex in February, and the long-term arguments behind the company's revenue growth still apply now.
In the automotive industry, its machine vision solutions are an important part of the trend toward automated production and highly precise monitoring and guiding production, not least in the production of electric vehicle (EV) batteries.
Source Fool.com
Cognex Corp. Stock
€42.51
-0.190%
Our community is currently high on Cognex Corp. with 11 Buy predictions and 3 Sell predictions.
With a target price of 48 € there is a slightly positive potential of 12.91% for Cognex Corp. compared to the current price of 42.51 €.
