Chardan Capital Markets analyst, James McIlree, reiterated his Buy rating on shares of Vuzix Corp. (NASDAQ: VUZI) and raised his price target to $10 and expects the company to end the year on a strong note with significant momentum continuing into 2018.

The analyst cited manufacturing capacity for the M300 and a reason and believes it "is estimated to be over 3,000 units in Q4 and 25,000 next". He stated "Demand is strong and customers are expected to move from pilots and trials to full scale deployment. An agreement with Toshiba should result in $3 to $5 million in revenue next year and introduction of the Blade will be additive in the second half. Waveguide production for OEM partners will also contribute to revenue next year and additional partners could be announced".

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Shares of Vuzix Corp. closed at $5.60 yesterday.