Christian Schwab from Craig-Hallum Maintains a Buy Rating on Vuzix (VUZI)

Vuzix Corporation (NASDAQ:VUZI) is one of the hot tech stocks to buy according to Wall Street analysts. On October 16, Christian Schwab from Craig-Hallum maintained a Buy rating on Vuzix without setting a price target on the shares.

Earlier on October 1, Craig-Hallum raised the firm’s price target on Vuzix to $6 from $3 and kept a Buy rating on the shares.

The firm noted that Vuzix announced that it received a six-figure development order for customized Waveguides from a leading US defense contractor. Craig-Hallum believes that Vuzix could announce other defense contractor customers for custom head-mounted display programs by the end of this year.

These programs are estimated to carry an average selling price to Vuzix of ~$4,000, potentially representing a $40 million to $400 million opportunity for the company over time. Additionally, Craig-Hallum believes Vuzix is well-positioned to see a ramp-up in smart glasses and AR opportunities with its partner, Quanta.

Vuzix Corporation (NASDAQ:VUZI) designs, manufactures, and markets AI-powered smart glasses, waveguides, and AR technologies in North America, Europe, the Asia Pacific, and internationally.

While we acknowledge the potential of VUZI as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.