Vuzix shares augmented after price target raised

eMagin

25/01/2021 19:40

** Augmented reality and tech/products co Vuzix  VUZI.O 
shares jumping >16% on Mon after research firm Bradley Woods
raises price target to $18.00
    ** Additionally, VUZI announced Mon it has partnered with
KDDI overseas subsidiaries  9433.T  to provide Vuzix Smart
Glasses to customers across the globe to support their COVID-19
business continuity planning efforts and increase overall
productivity  urn:newsml:reuters.com:*:nPnccPMgra 
    ** Stock hit high of $15.40 earlier in session, has since
pared gains; last trading ~$14.40
    ** James McIlree of Bradley Woods believes "the response by 
businesses to the pandemic and the Fed’s policy will result in
multi-year acceleration in sales for Vuzix"
    ** McIlree says his $18 PT capitalizes sales in 2024/25 at
8x. While he expects the multiple on sales will decline as sales
ramp, Fed policy will keep valuations high for high-growth
stocks. "Our EV/Sales target reflects this dynamic."
    ** 4 analysts cover VUZI with 3 'buy' and 1 'hold'; median
PT is $13.00, up from $6.50 one month ago
    ** On Jan 15, co announced unaudited Q4 2020 revenue
increased more than 100% yr-over-yr to over $4.0 mln
 urn:newsml:reuters.com:*:nPn70Vyb8a
    ** Shares up ~60% YTD after a more than 350% advance in 2020
 urn:newsml:reuters.com:*:nL4N2J231W

 (Terence Gabriel is a Reuters market analyst. The views
expressed are his own)