Analyst James Ricchiuti of Needham reiterated a Buy rating on nLIGHT, boosting the price target to $28.00.
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James Ricchiuti has given his Buy rating due to a combination of factors including nLIGHT’s impressive performance in the recent quarter. The company reported a significant increase in revenue, surpassing both its guidance and market expectations, which highlights its strong operational execution.
Furthermore, the defense segment of nLIGHT’s business is projected to grow substantially, with management now expecting growth of over 40% by 2025, an upgrade from the previous forecast. This optimistic outlook, coupled with better-than-expected margins and a positive EBITDA, reinforces the potential for continued stock appreciation, making it an attractive buy for investors.