Cantor starts Impinj with Overweight on large addressable market

Cantor Fitzgerald initiated coverage of Impinj with an Overweight rating and $205 price target. The company is well positioned to capitalize on a large addressable market as radio frequency identification tag usage accelerates in the verticals of retail and general merchandise and supply chain and logistics, the analyst tells investors in a research note. The firm says that outside these two verticals, Impinj looks to grow market share by leveraging its system to enable more than 2,000 partners to drive solutions for end customers in other markets. Cantor believes Impinj is a leader in the internet of things products with a platform of products at both ends of the radio wave frequency. Management is focused on growing revenues and expanding margins, which will benefit the shares, the form contends.