TECH - Extreme Networks Poised For A Strong Comeback: Analyst Predict Bright Future In CY24 | Benzinga
Needham analyst Alex Henderson reiterated Extreme Networks Inc (NASDAQ: EXTR) with a Buy and a $23 price target.
Extreme is likely to have a slow start to CY24, with tough compares, but as the year progresses, the analyst expects growth to reassert itself and margin expansion to drive EXTR shares higher.
The inventory correction is currently masking the growth, but Henderson looks for this to normalize over the next several quarters.
The analyst forecasts solid operating margin expansion and robust cash flow as this occurs.
With end-market demand healthy, the pipeline robust, and share gains continuing, Henderson expects a growth rebound as the year unfolds.
The analyst noted that Extreme will deliver 5-10% growth over the near term ...