Loading...
Loading...
Lake Street analyst Eric Martinuzzi initiated Imation Corporation
IMN exposure with a Buy rating and PT of $8.00.
Martinuzzi noted that this PT is not based on the valuation of the media businesses or the $50 million in hidden investments, rather on the Storage and Security Solutions segment. The analyst emphasized that “management needs to invest in its Storage and Security business by hiring the right sales and engineering talent and spending efficiently on international distribution. It also needs to cut costs in its declining optical and tape businesses to protect margins.”
Despite the decline in consumer and commercial storage, Martinuzzi stated that IMN is underappreciated with its hidden assets and expected growth. Lake Street described Imation as “a compelling investment opportunity for the value investor.”
IMN closed at $4.18 on Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in