Benchmark Starts Uni-Pixel (UNXL) at Speculative Buy
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Benchmark initiated coverage on Uni-Pixel (NASDAQ: UNXL) with a Speculative Buy rating and a price target of $2.40. Analyst Mark Miller said given design wins, cost reductions, higher expected yields and adoption of touch screens with metal mesh technology, he see growth in UniPixel’s sales and profits by late 2017.
"Sales of non-ITO touch screen sensors are seen growing from $1 billion in 2015 to $6 billion by 2020. Sensors employing metal-mesh technology are projected to grow from a 5% share to a 30% share by 2019. UniPixel has developed a low-cost metal-mesh coating that provides superior responsiveness in touch screen displays. The firm is also marketing a protective coating for touchscreens that lower both display costs and device weight. These products have seen growing interest from display manufacturers as indicated by 19 recent design wins which represent an estimated revenue range of $17 million to $19 million. Revenue from most of these design wins is expected to ramp beginning 4Q16 and accelerate into 2017, resulting in the first profits for the firm by late 2017," said Miller.
Shares of Uni-Pixel closed at $1.44 yesterday.
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