nLight price target raised to $28 from $20 at Raymond James

Raymond James raised the firm’s price target on nLight (LASR) to $28 from $20 and keeps a Strong Buy rating on the shares. nLight’s Q2 results were better than expected and proving the firm’s notion that this is a defense company first, the analyst tells investors in a research note. Raymond James sees a path for nLight to double its defense revenue and triple its AEBITDA to $30M+ over the next three years given their leading position.