Cognex price target raised to $55 from $52 at Bernstein

Bernstein raised the firm’s price target to $55 from $52 and keeps an Outperform rating on the shares. Cognex’s Q1 results and Q2 guidance showed moderate sequential improvement and were largely in line with expectations, the analyst tells investors in a research note. The firm is waiting for more meaningful growth in 2H and feels increasingly excited about the company’s emerging customer initiative and its long-term outlook.