nLight price target raised to $74 from $55 at Roth Capital

Roth Capital raised the firm’s price target on nLight (LASR) to $74 from $55 and keeps a Buy rating on the shares after its Q4 earnings beat. The company remains on-track to transition to a pure play directed energy laser provider following the announcement that it is in the process of exiting the welding and cutting markets, the analyst tells investors in a research note. Roth adds that it sees the growing use of unmanned aerial vehicles validating the long-term demand for nLIGHT’s laser and sensing solutions.