Loop Capital last night initiated coverage of Penguin Solutions (PENG) with a Buy rating and $30 price target The firm believes Penguin is an “on-the-come” generative artificial intelligence related company “with teeth in important areas of critical next generation technology.” It sees the company as having multiple catalysts over the next 12-24 months, both fundamental and a “special situation” via SK Telecom, that make the story “very intriguing.”
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