Nlight (LASR) PT Raised to $16 at Needham

Needham analyst James Ricchiuti raised the price target on Nlight (NASDAQ: LASR) to $16.00 (from $15.00) while maintaining a Buy rating.

The analyst commented: "LASR is firing on only one of three cylinders as ongoing strength in directed energy for a variety of military programs mainly in the U.S. but also with overseas allies, including Israel, is being overshadowed by continued weakness in the company’s Commercial business. Q3 revenues were modestly above consensus, though LASR provided a disappointing Q4 outlook, citing continued weak demand in the Industrial and Microfabrication markets. A&D is expected to remain a bright-spot through 2025, but without a recovery in the Commercial business, we believe LASR will be hard-pressed to show much improvement in 2025. That said, we believe the stock is worth accumulating at current levels given the defense business and on the basis of an eventual recovery in the Commercial business. Maintain Buy.'

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