Wednesday, July 28, 2021 10:22:22 PM
"Needham's 5-star analyst Rajvindra Gill is impressed with Resonant’s forward potential, writing, “We are still in the earliest innings of the 5G deployment cycle, with most cycles peaking 13-14 years after initial launch (2019 for 5G). The maximum potential of 5G, which is both speed and latency gains, will not be possible without new filter technology on both transmitters (base stations, routers) and receivers (consumer devices). Resonant has developed a new generation of filter that uses old production methods, which are lower cost and have a wider production base, and could gain significant traction as new filters becomes a requirement to maximize the potential of 5G globally.”
The analyst added, "The stock has underperformed the SOX... and is now trading at~10x EV/Sales on our 2022 estimate, slightly higher than its 8x 3-year median. We believe this underperformance brings an opportunity to buy shares at an attractive price, with over 100% upside... one of the largest in our coverage universe."
Unsurprisingly, Gill rates RESN a Buy, and his $6.25 price target implies a one-year upside potential of ~115%.
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