Vuzix Corp. (VUZI) PT Lowered to $3 at Craig-Hallum

Craig-Hallum analyst Christian Schwab lowered the price target on Vuzix Corp. (NASDAQ: VUZI) to $3.00 (from $3.50) while maintaining a Buy rating.

The analyst commented: "Vuzix reported Q4 revenue below its pre-released expectations due to some shipment and acceptance timing which pushed out revenue from Q4. The company also reported a full year loss of $50 million, in line with previously stated expectations, which notably included ~$8 million of one-time in nature charges in Q4. Following the reported Q4 results we are maintaining our Buy rating while lowering our price target to $3.00, based on 15x our 2024 revenue estimate of $13.9 million."

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