Rodman & Renshaw Starts Revolution Lighting Technologies (RVLT) at Buy

Rodman & Renshaw initiated coverage on Revolution Lighting Technologies (NASDAQ: RVLT) with a Buy rating and a price target of $20.00. Amit Dayal anticipates strong growth.

"RVLT is successfully executing on its strategy of organic development and targeted acquisitions to attain capabilities along the entire value chain of the LED lighting industry, including in design, manufacturing, sales, and distribution. We believe that the company’s design and distribution strengths are key differentiators that position the company to build a business model with better control over margins and stronger visibility on revenues," said Dayal.

"We believe that RVLT should be able to grow at 35%, which is faster than the company-guided 31% in 2016, as we factor in potential contributions from U.S. Navy and Military that we believe are not reflected in the company's guidance. Over the next few years, we expect the company’s topline to grow between 20% and 25% driven by the success of its distribution strategy," added the analyst.

For an analyst ratings summary and ratings history on Revolution Lighting Technologies click here. For more ratings news on Revolution Lighting Technologies click here.

Shares of Revolution Lighting Technologies closed at $6.48 yesterday.

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