LightPath price target raised to $5 from $3 at Ladenburg

Ladenburg raised the firm’s price target on LightPath (LPTH) to $5 from $3 and keeps a Buy rating on the shares after hosting meetings with management. The stock has performed well recently, catalyzed by germanium restrictions by major exporter China, the analyst tells investors in a research note. The firm says LightPath has historically used germanium in its optics offerings, though its germanium exposure today has been reduced to about 10% of revenue. Ladenburg believes the transition to LightPath 3.0 puts the company in a position to grow and have sustained profitability. The company has completed its transition and is now poised for solid growth, contends the firm.