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Fly News Breaks for August 6, 2019
Aug 6, 2019 | 09:34 EDT
DA Davidson analyst Thomas Diffely lowered his price target on nLight to $20 after its Q2 earnings miss and below-consensus Q3 revenue guidance, saying its quarters echoed the industry concerns around the escalating trade tensions between U.S. and China. The analyst also cites the slowing industrial laser market and the pricing pressure coming from the company's domestic competitors in China, stating that there is now "little visibility into the timing or magnitude of a recovery." Diffely maintains a Buy rating on nLight longer term, adding that the company's Aerospace and Defense segment remains a "bright spot" with its sixth consecutive quarter of double-digit growth.
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