Craig-Hallum bullish on LightPath, initiates with a Buy

As previously reported, Craig-Hallum initiated coverage of LightPath (LPTH) with a Buy rating and $5.50 price target The firm says LightPath is well underway with a strategic transformation, combing greater differentiation at the component level along with increasing vertical integration, and has large singular revenue opportunities that are not reflected in the stock at current levels. Craig-Hallum further notes that LightPath’s component differentiation is based on unique materials exclusively licensed from the USG that avoid key materials now export-limited from China/Russia. The firm believes the company has multi-bagger potential with limited downside at current levels and sees it as a key small cap to own right now.