Northland Capital Markets Remains Bullish on Akoustis Technologies (AKTS)
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Northland Capital Markets analyst, Gus Richard, reiterated an Outperform rating and $6.00 price target on Akoustis Technologies (NASDAQ: AKTS). Richard estimates that AKTS will run out of cash by the end of CY19. The pursuit of the handset market and internal development of packaging accelerates AKTS’s cash burn.
AKTS products currently target applications in WiFi, wireless infrastructure, mobile handset, and defense markets. Richard believes that the WiFi market alone could drive AKTS revenue to $100M over the next couple years. In March, AKTS announced its first standard product a 5.2G BAW filter for the WiFi market.
Shares of Akoustis Technologies closed at $4.96 yesterday.
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