Vuzix price target lowered to $5 from $8 at Dawson James

Dawson James analyst James McIlree lowered the firm’s price target on Vuzix to $5 from $8 and keeps a Buy rating on the shares as the firm has adjusted its estimates after Q3 revenue was meaningfully lower than its estimate, as were margins and EBITDA. A strong performance from the company’s engineering services was “far outweighed” by customer delays and push-outs for smart glasses, the analyst tells investors.