Shares of Byrna Technologies Inc. (BYRN) soared 5.86% in pre-market trading on Friday, following a bullish analyst action from B. Riley. The stock's significant uptick comes as investors react positively to the revised outlook for the company.
B. Riley, a prominent financial services firm, has raised its price target on Byrna Technologies to $46 from the previous $39, while maintaining a Buy rating on the stock. This represents a substantial increase in the expected value of the company's shares, potentially signaling strong confidence in Byrna's future performance and growth prospects.
Byrna Technologies, known for its less-lethal security solutions, has been gaining attention in the market. While specific details about the company's recent developments are limited in the provided information, the raised price target suggests that B. Riley analysts see potential for significant upside in the stock. Investors will likely be watching closely for any additional news or financial results from Byrna Technologies that could further support this optimistic outlook.
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