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Fly News Breaks for November 15, 2019
LASR
Nov 15, 2019 | 08:46 EDT
Needham analyst James Ricchiuti raised his price target on nLight to $19 and kept his Buy rating. The analyst is positive on the company's completed acquisition of Nutronics, which the management expects to add up to $40M to its revenues in 2020. Ricchiuti further notes that the financial metrics of the deal are less important than the "strategic implications" for nLight to move beyond being a diode supplier for defense applications to "developing its own high-value directed energy products."
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