Wunderlich Securities Reiterates Buy, $5 Target on Kopin

Wunderlich Securities maintains its Buy rating and $5 target price on Kopin

as the company's military sales could keep 2012 revenue guidance flat. Wunderlich Securities says, "During the first nine months of 2011, quarterly military sales ranged from $7.3 million to $11.1 million. This was largely a function of selling price/mix for different components and assemblies. Because of the potential for the combination of both declining volume and unit price (not necessarily gross margin), we are cutting our military sales estimates by 50% for 2H12. We expect commercial opportunities to enable the company to achieve 2012 revenue growth in a range of flat to up 10% over 2011E." KOPIN closed at $3.86 a share on Friday.