nLIGHT: Set for best day in a year on Nutronics buy

nLIGHT

15/11/2019 16:48

** U.S. laser firm's shares  LASR.O  rise 13.4% to $19.23,
its highest since early July; Set for best day in a year
    ** Bought privately held Nutronics on Thursday for $17.5 mln
in cash and $15.8 mln of restricted stock units; Craig-Hallum
and Needham hike PTs  urn:newsml:reuters.com:*:nGNX3mKT77
    ** Expects deal to add between $25 mln and $40 mln to 2020
revenue
    ** Acquisition further diversifies away from cyclical end
markets and deepens exposure into directed energy space-
Craig-Hallum 
    ** Combination of LASR's semiconductor lasers and Nutronic's
beam combining and beam control capabilities give co strategic
competitive advantage and value proposition that should make it
a clear leader in the space- Craig-Hallum 
    ** Last week, the two brokerages cut their PTs on stock
after co posted quarterly loss vs. year-ago profit
    ** Five of 10 brokerages rate the stock "buy" or higher and
five "hold"; their median PT is $18
    ** Including session gains, stock up ~8% YTD

 (Reporting by Vibhuti Sharma in Bengaluru)