nLight initiated with an Outperform at Baird

Baird last night initiated coverage of nLight (LASR) with an Outperform rating and $95 price target The firm says market tailwinds and “robust” funding positions support favorable growth, which is further enhanced by nLight’s vertical integration and technology stock. nLight is vertically integrated from the semiconductor chip all the way through to complete high power laser subsystems, the analyst tells investors in a research note. Baird believes adoption of directed energy weapons platforms is aiding the company’s growth.