Vista Partners Updates Coverage on Vuzix Corporation (NasdaqCM: VUZI); Raises Price Target to $15.00
Vista Partners has updated coverage on Vuzix Corporation (NasdaqCM: VUZI) (“The Company” or “Vuzix”) and raised its twelve-month price target from $12.00 to $15.00. Ross Silver, Principal Analyst at Vista Partners, stated, “Vuzix is a leading supplier of Video Eyewear and Smart Glasses products in the consumer, commercial and entertainment markets. The Company’s products include personal display and wearable computing devices that offer users a portable high quality viewing experience, provide solutions for mobility, wearable displays, virtual and augmented reality. Vuzix holds 43 patents and 23 additional patents pending and numerous IP licenses in the Video Eyewear field. The Company has Strategic partnerships with Lenovo & other Fortune 500 companies including SAP, AT&T, Intel, DHL and NTT Docomo.” Mr. Silver concludes, “In April 2016, Digi-Capital forecast combined AR/VR market revenue of $150B by 2020, with AR taking the lion’s share of $120B, and VR making up $30B.”
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