Penguin Solutions price target raised to $26 from $23 at JMP Securities

JMP Securities analyst Rustam Kanga raised the firm’s price target on Penguin Solutions (PENG) to $26 from $23 and keeps an Outperform rating on the shares. Penguin Solutions reported solid Q1 results, with strong top-line performance, driven by Advanced Computing revenue, which was up 49% year over year, the analyst tells investors in a research note. The partnership with Dell (DELL) is broadening the scope of Penguin’s AI deployments, JMP says.