Bank of America has initiated coverage on Penguin Solutions with a Buy rating and a $100 price target, implying approximately 40% upside from the stock’s prior close of around $71.57. The company reported better-than-expected fiscal Q4 2026 results on October 6, with net sales of $567 million, a 68% year-over-year jump, and non-GAAP EPS of $1.00 beating the consensus estimate of approximately $0.77. Penguin Solutions also raised its fiscal 2027 revenue outlook to approximately $2.43 billion at the midpoint, implying about 40% growth ahead, while AI-related revenue now accounts for 78% of total sales with 141% year-over-year growth. Several other analysts share this bullish view, with Rosenblatt also setting a $100 target and Goldman Sachs at $85.
Source: Read the original article
