Shares of Netgear Inc. (NASDAQ:NTGR) surged 5.29% on Thursday, propelled by an analyst upgrade that cited the company's progress in inventory destocking and new product launches as key tailwinds.
The networking equipment maker has been working to clear excess inventory and better align supply with demand through its channel partners. According to analysts, this inventory clearance is expected to help Netgear better match its sell-in with sell-through, setting the stage for improved performance.
Additionally, Netgear's recent launch of new products has been viewed as a positive factor by analysts. The company's ability to introduce innovative offerings in its core markets is seen as a catalyst for future growth and a potential driver of increased customer demand.
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