Kopin Corp.'s (KOPN:NASDAQ) AWE 2025! Vision-Tech Roadshow stop in San Francisco on June 9 was attended by Senior Research Analyst Jaeson Schmidt with Lake Street Capital Markets, and he shared his takeaways in a June 11 research note. Kopin develops innovative display and optical technologies and sells them as critical components and subassemblies for defense, industrial and consumer products.
"We had a chance to see some of the company's solutions, including its CR3, DARKWAVE, DAYVAS, NeuralDisplay and MicroLED," Schmidt wrote. "We came away impressed with Kopin's capabilities and the technology roadmap."
54% Suggested Uplift
Lake Street Capital reiterated its US$2.50 per share price target on the Massachusetts-headquartered optical tech firm.
"We continue to think shares can work higher given the conservative bar for 2025, our expectation for continued contract win announcements and line of sight to break even," Schmidt wrote.
At the time of Schmidt's report, KOPN was trading at about US$1.62 per share, the analyst noted. The target implies a potential return for investors of 54%. The company has 166.1 million shares outstanding and a market cap of US$264 million.
Kopin is a Buy.
Investment Thesis
In his report, Schmidt shared some of his thoughts about Kopin and its future. As the only U.S.-based microdisplay company, it should benefit from the country's new priorities to reshore manufacturing and reduce vulnerabilities in the national supply chain.
Kopin should be able to capture an increasing share of the global microdisplay market, forecasted to reach US$6 billion (US$6B) in value in 2028 from US$2B in 2022, according to Research and Markets. The proliferation across a rising number of end markets, including aerospace, auto, consumer, defense, industrial and medical, is fueling growth.
The momentum behind recent orders coming in should continue, and the outlook for this year very well may wind up being conservative.
"Ultimately, we believe Kopin can be a consistent double-digit revenue grower with margins marching toward the goal of 40%," Schmidt wrote.
In other news, Kopin will participate in Lake Street's 9th Annual Best Ideas Growth (BIG) Conference on Sept. 11 in New York.
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Disclosures for Lake Street Capital Markets, Kopin Corp., June 11, 2025
IMPORTANT DISCLOSURES
RATINGS DEFINITION Buy rated stocks are expected to generate greater than 10% returns during the next 12 months. Hold rated stocks are expected to generate returns of 0% to 10% during the next 12 months. Sell rated stocks are expected to generate negative returns over the next 12 months and generally do not have a price target. Information on our valuation methodology and risks can be found in the “Investment Thesis & Valuation” and “Risks” sections above. RATINGS DISTRIBUTION RESEARCH DISCLOSURES Lake Street Capital Markets, or its affiliates, intends to seek or expects to receive compensation for investment banking services from the subject issuer in the next three months. In the past 12 months, Lake Street Capital Markets has received compensation for investment banking services from the subject company. In the past 12 months, Lake Street Capital Markets has managed or co-managed a public offering of securities for the subject company. The authoring analysts who are responsible for the preparation of this investment research are eligible for compensation based on the total revenue and general profitability of Lake Street Capital Markets, which includes investment banking revenue. However, such authoring analyst will not receive compensation that is directly based on or linked to specific investment banking transactions. ANALYST CERTIFICATION – REGULATION AC Each authoring analyst of Lake Street Capital Markets whose name appears on the front page of this investment research hereby certifies that (1) the recommendations and opinions expressed in this investment research accurately reflect the authoring analyst’s personal, independent, and objective views about any and all of the subject investments or issuers discussed herein; and (2) no part of the authoring analyst’s compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed by the authoring analysts. OTHER DISCLOSURES This investment research is intended for informational purposes only and does not constitute an offer or solicitation to buy or sell securities referenced herein in any jurisdiction where such would be prohibited. Although the information and statements of fact contained in this investment research have been obtained from sources we believe to be reliable, including statistical services and issuer statements & reports, its accuracy and completeness cannot be guaranteed. The securities discussed and any recommendations made herein may not be suitable for all investors depending on their specific financial position or investment objectives. This investment research and any opinions, recommendations, and estimates contained here represent Lake Street Capital Market’s judgment as of the date of this report and are subject to change without notice. Lake Street Capital Markets may effect transactions as a principal or agent in the securities mentioned herein. Additional information available on request. Member FINRA / SIPC. This report may not be reproduced, distributed, or published without the prior consent of Lake Street Capital Markets, LLC. All rights reserved.
