Oppenheimer Remains Sidelined on eMagin Corporation Following 1Q:15 Results
In a research report published Monday, Oppenheimer analyst Andrew Uerkwitz reiterated a Perform rating on eMagin Corporation (NYSEMKT:EMAN), after the company reported first-quarter financial results and held a conference call last night to provide a corporate update. No price target was provided.
Uerkwitz noted, “While total revenues came in under expectations, eMagin posted its first positive earnings quarter since 1Q13 ($0.01 vs. our -$0.04) as management was able to effectively manage operating expenses. With steady contract revenue locked down and an increasing production efficiency, EMAN has been able to make strides toward positioning itself for the broader consumer market. We applaud EMAN for taking all the right steps, but with low visibility into a diversified revenue stream, we remain sidelined.”
The analyst further wrote, “We reiterate our Perform rating on EMAN given the lack of growth and visibility in revenues. We believe its dependence on defense customers and constrained production capacity will prevent a near-term foray into the higher-volume consumer market.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Andrew Uerkwitz has a total average return of 4.4% and a 59.6% success rate. Uerkwitz is ranked #1010 out of 3604 analysts.