Craig-Hallum Sees Vuzix Corp. (VUZI) a Beneficiary of the Microsoft (MSFT) AR Deal
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Craig-Hallum analyst Christian Schwab reiterated a Buy rating and $30.00 price target on Vuzix Corp. (NASDAQ: VUZI) after Microsoft (NASDAQ: MSFT) announced a deal with the U.S. Army for augmented reality headsets worth $22 billion over 10 years.
The analyst believes the deal is "an indication of the significant open-ended opportunity that VUZI has in front of them. Schwab reminds that the company is actively engaged in multiple potential significant OEM opportunities across multiple end markets and following the company’s recent raise of ~$85 million the company has a war chest of cash to pursue the opportunities."
Shares of Vuzix Corp. closed at $25.44 yesterday.
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