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Fly News Breaks for May 1, 2019
May 1, 2019 | 07:54 EDT
Ladenburg Thalmann analyst Jon Hickman upgraded Energous to Buy from Neutral with a $6.50 price target. The stock closed yesterday up 1c to $5.07. The company's revenues in Q1 were again below expectations as Asian regulatory approvals are taking meaningfully longer to obtain, Hickman tells investors in a post-earnings research note. The analyst, however, remains confident that Energous is still on track to achieve "meaningful" product revenues by the end of 2019 and become a "notable participant" in the wireless charging market. He cites the recent decline in the share price for his upgrade to Buy.
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