Penguin Solutions initiated with a Buy at Goldman Sachs

Goldman Sachs analyst Michael Ng initiated coverage of Penguin Solutions (PENG) with a Buy rating and $21 price target The company is well positioned to address the growing enterprise artificial intelligence compute opportunity through its Penguin Computing integrated solution, where the company has 25 years of experience designing, building, deploying and managing high-performance computing projects, the analyst tells investors in a research note. The firm says Penguin’s exposure to enterprise AI demand should help drive its revenue to grow at 13% annually through 2029 and expand operating margins.