Kopin Stock Pops On ‘Buy’ Rating From Canaccord: Retail Remains Undecided
By Stocktwits Inc | First Published Jan 2, 2025, 9:56 PM ISTAfter a challenging year, Kopin’s defense-focused projects and medical tech developments signal strong growth potential, according to Cannacord’s research note.
Kopin Corp. (KOPN) stock rose by over 3% in morning trade on Thursday after Canaccord analyst George Gianarikas initiated coverage of Kopin with a ‘Buy’ rating and set a $2 price target.
Kopin specializes in application-specific optical systems and high-performance microdisplays for sectors including defense, enterprise, and medical applications.
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Canaccord sees a "premium multiple" for the shares as justified "by several factors."
According to the research note cited by TheFly, Kopin’s ongoing defense projects—many in funded R&D phases—could significantly boost revenue streams.
In October, the company announced it had secured a contract to further develop its nighttime augmented reality HUD (Head-Up Display) technology to support warfighters using night vision devices.
Kopin's defense product revenue increased 109% year-over-year to $10.4 million in Q3 2024.
Last year, Kopin broadened its reach into the medical sector by developing wearable surgical monitoring devices and high-resolution spatial light modulators for super-resolution microscopy systems.
Canaccord believes Kopin's "diverse market opportunities appear set to receive a material boost through its strategic initiatives to capture a growing share of wallet."
Retail sentiment around the stock remained ‘neutral’ even as chatter increased to ‘normal’ from ‘low’ levels a day ago.
Kopin's stock had a tough 2024, declining over 30% for the year, including a sharp 43% drop in August that brought its shares to a low of $0.66.
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