Ispire Technology price target raised to $12.50, named Top Idea at Roth MKM

Roth MKM raised the firm’s price target on Ispire Technology to $12.50 from $11 and keeps a Buy rating on the shares. The firm has also named the stock its Top Idea for the second half of 2024. Roth MKM is positive on additional meaningful revenue growth for Ispire tied to new global e-cig partnerships, adding that it is confident that exceptional growth will continue, the analyst tells investors in a research note. The firm also expects upside for stock coming from new ODM partnerships, distribution expansion, age gating technology licensing, open pod system share capture, and U.S. cannabis rescheduling.