UK's Raspberry Pi gains after Jefferies lifts target price on resilient demand
BUZZ-UK's Raspberry Pi gains after Jefferies lifts target price on resilient demand ** Shares of single-board computing company Raspberry Pi RPI.L up as much as 10% at £8.05 - amongst top gainers on FTSE-250 Midcap Index .FTMC
** Jefferies raises RPI's target price to 960 pence from 420 pence, citing traction in direct-to-OEM sales and higher-volume orders from larger enterprises
** "In the longer term, we continue to expect edge AI-related demand for boards, as well as the company's small but growing MCU (microcontroller) business, to become growth drivers," Jefferies says
** Earlier in June, RPI upgraded its annual profit outlook and said it would tap debt facilities to make strategic memory purchases to secure supply amid scarcity driven by AI demand
** Jefferies currently has a "Buy" rating on the stock
** YTD, stock has gained ~165%
(Reporting by Neeshita Beura in Bengaluru)