LightPath initiated with a Buy at Ladenburg

Ladenburg analyst Glenn Mattson initiated coverage of LightPath Technologies with a Buy rating and $3 price target. The company is a leader in the growing field of photonics, the analyst tells investors in a research note. The firm says LightPath’s optical products are seeing increasing adoption in end market applications such as medical devices, telecom equipment, industrial and government/defense. It says the company “occupies a unique position” through its proprietary chalcogenide material which can substitute for germanium, an element that is mainly sourced from China and Russia.