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Fly News Breaks for April 3, 2019
Apr 3, 2019 | 11:20 EDT
H.C. Wainwright analyst Amit Dayal told investors in a research note that Orion Energy's receipt of a $35M contract to expand the retrofit of an existing national account customer's lighting systems with LED lighting and wireless internet-of-things enabled control solutions validates the company's product quality, expertise and execution. Dayal says he believes that the expanded contract shows that management is being successful in taking advantage of this competitive edge. He sees revenues of $20.4M for Q4, $63.7M in fiscal 2019 and $79.7M for fiscal 2020, and sees some new product launches at this year's LightFair event in May. The analyst maintains a Buy rating and $1.75 price target.
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