In a report released today, Nehal Chokshi from Maxim Group reiterated a Buy rating on Vuzix Corporation (VUZI), with a price target of $8. The company’s shares closed yesterday at $2.63, close to its 52-week low of $2.31.
Chokshi said:
“In-line quarter; COGS details indicate product GM improves q/q implying waveguide manufacturing issues have been ironed out. Management provides data points to suggest waveguide manufacturing issues have been ironed out and to support their continued confidence in revenue ramp, leading us to leave our forward estimates effectively unchanged. VUZI continues to be in the pole position for AR glasses due to waveguide IP. Reiterating Buy rating and 12-month price target of $8.”
According to TipRanks.com, Chokshi is a 4-star analyst with an average return of 9.3% and a 56.7% success rate. Chokshi covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Super Micro Computer, and Palo Alto Networks.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Vuzix Corporation with a $8.67 average price target.
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The company has a one-year high of $8.45 and a one-year low of $2.31. Currently, Vuzix Corporation has an average volume of 339.5K.
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Vuzix Corp. engages in the design, manufacture, marketing, sale, and supply of augmented reality wearable display devices. Its products include personal display and wearable computing devices that offer users a portable viewing experience, provide solutions for mobility, wearable displays and virtual and augmented reality.
