Drexel Hamilton Reiterates Buy on Resonant (RESN) Following In-Line 2Q

August 11, 2016 6:58 AM EDT
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Price: $4.22 -1.63%

Rating Summary:
    1 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Drexel Hamilton reiterated a Buy rating and $8.00 price target on Resonant (NASDAQ: RESN) following the company's 2Q earnings report and expansion announcement. Resonant’s second quarter results were very much inline with expectations, with the firm demonstrating significant progress on all fronts over the past three months.

Analyst Cody Acree commented, "With its recent progress, we believe the company has gone a long way to significantly increasing the likelihood of meeting its product design and licensing objectives and achieving recurring revenue within an investable timeframe. Accordingly, we reiterate our Buy rating and our $8 target price."

For an analyst ratings summary and ratings history on Resonant click here. For more ratings news on Resonant click here.

Shares of Resonant closed at $5.86 yesterday.

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