Phunware price target raised to $9 from $7 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Phunware to $9 from $7 and keeps a Buy rating on the shares. The company’s business update will be received positively as the company’s expanded revenue opportunities are favorable, the analyst tells investors in a research note. The firm recommends investors accumulate a position in Phunware shares ahead of improving operating results into 2025.