Griffin Securities Updates Coverage on I.D. Systems

Griffin Securities has published a report on I.D. Systems (NASDAQ: IDSY) maintaining the price target and rating on the wireless device developer and distributor.

In the report, Griffin Securities wrote, "Ultimate rollout by its customer base for its tracking system has commenced- IDSY has announced plethora of new awards over past couple of quarters (though all are small in size)-expect more to happen- new Power Box launch (lower price point) should expand roll-out by hesitant customers and surprisingly many of them choose to upgrade to Power Fleet."

Griffin Securites rated I.D. Systems a BUY with a price target of $5.00. I.D. Systems closed Wednesday at $4.20.