Cellebrite price target raised to $20 from $17 at BofA

BofA analyst Tomer Zilberman raised the firm’s price target on Cellebrite (CLBT) to $20 from $17 and keeps a Buy rating on the shares. After having recently attended the IACP Conference, where the firm met with public safety companies such as Motorola Solutions (MSI) and Cellebrite, the firm says that vendors are shifting toward platformization, AI is “a force multiplier of opportunity,” and notes that demand for SaaS/Cloud is growing.