Lake Street Initiates Franklin Wireless (FKWL) with Buy Rating $6 PT on Mobile Hotspot Growth

Franklin Wireless Corp. (NASDAQ:FKWL) is one of the hot tech stocks to buy according to Wall Street analysts. On October 13, Lake Street initiated coverage of Franklin Wireless with a Buy rating and $6 price target. This decision was made by Lake Street even as the firm acknowledged that the very rapid growth seen during the COVID-19 pandemic is unlikely to be repeated.

Lake Street Initiates Franklin Wireless with Buy Rating $6 PT on Mobile Hotspot Growth

However, the firm believes that Franklin Wireless is well-positioned to benefit from the expanding mobile hotspot market. Demand is expected to be fueled by the rise of hybrid work models, the growing need for reliable backup internet at home, and general demand for mobile connectivity. Franklin’s status as a lower-cost provider and its US-based headquarters give it an advantage in gaining market traction.

Franklin Wireless Corp. (NASDAQ:FKWL) provides integrated wireless solutions in North America and Asia. The company offers 5G/4G wireless broadband products, such as portable wi-fi mobile hotspot routers, mobile hotspots, fixed wireless routers, and mobile device management/MDM solutions.

While we acknowledge the potential of FKWL to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than FKWL and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.