0133 GMT - Audinate's bulls at Morgan Stanley are happy with the audio-tech provider's insistence that current growth headwinds are cyclical rather than structural. The MS analysts tell clients in a note that the Australia-listed company's first-half results provide comfort that underlying adoption trends remain strong. They point to 31% growth in software unit sales despite customer destocking of chip, card and module inventory. Audinate also seems to be showing good cost control through what they call a challenging destocking period. MS lifts its target price 22% to A$11.00 and stays overweight on the stock, which is up 6.7% at A$10.23. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
February 17, 2025 20:35 ET (01:35 GMT)
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