Craig-Hallum upgrades Faro Technologies to Buy, believes stock can double

As previously reported, Craig-Hallum upgraded Faro Technologies to Buy from Hold with a price target of $26, up from $22, after the company reported much improved results in Q2, with solid upside to both revenue and profitability. While plenty of uncertainty remains, primarily around the macro, the firm is growing more comfortable with the potential P&L improvements and believe the company is in the early innings of regaining credibility with investors. Given what happened last quarter, and where the stock remains today, Craig-Hallum believes the stock could double from here on better execution alone.