Vista Partners Updates Coverage on Vuzix Corporation (NASDAQ: VUZI); Raises Price Target to $12.00
SAN FRANCISCO, CA -- (Marketwired) -- 03/18/15 -- Vista Partners announced today that it has updated coverage on Vuzix Corporation (NASDAQ: VUZI) ("The Company" or "Vuzix") and raised its twelve-month price target from $8.50 to $12.00. Ross Silver, Principal Analyst at Vista Partners, stated, "Vuzix is one of the leading supply companies in Video Eyewear & Smart Glasses. According to the Company, the commercial use for the Company's technology is already significant, and the potential number of industries that could utilize the Company's products is expanding rapidly. According to ABI Research, 485 million wearable computing devices are expected to sell annually by 2018 with the smart glasses expected to account for 75 million of that total." Mr. Silver concludes, "On January 2nd, 2015, Vuzix announced that Intel Corporation (ticker: INTC) made a $24.8 million investment into the Company. This investment by Intel seemingly provides considerable third party validation for the Company."
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Vista Partners LLC, founded in 2005, is a Registered Investment Advisor in the States of California and Oregon. The firm's professional staff has backgrounds in finance, corporate communications and investment banking. Vista focuses on investing globally across all market sectors. Vista also provides investment considerations on publicly traded companies through a platform of stock research reports, newsletters, company specific webpages and daily commentary. The platform of products is meant to serve as potential tools for investors to learn about investment considerations. It is Vista's mission to provide investors with tools that may enable them to make profitable investment decisions with the goal to deliver investment considerations that outperform small, mid and large cap equity indexes.
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