"Market researchers believe this market could grow at a CAGR of nearly 40 percent out to 2022, reaching an aggregate value of nearly $18 billion worldwide at that time," wrote Aegis.
The analysts noted that the company's end products utilizing MicroVision's technology are in the early stages of commercialization, therefore it is hard to forecast product sales. However, they believe revenue growth should at least keep pace with the market, which is expected to grow at a 40 percent clip over the next few years.
The analysts estimate 2016 and 2017 revenues to stand at $16 million and $24 million and the loss per share at $0.28 and $0.19, respectively. Aegis suggests a $2.90 price target on the company's shares, which is based on a multiple of 5 times their 2018 revenue estimate.
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