H.C. Wainwright Keeps Their Buy Rating on POET Technologies Inc (POETF)
Christine Brown-April 5, 2019, 7:10 AM EDT
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In a report released today, Kevin Dede from H.C. Wainwright maintained a Buy rating on POET Technologies Inc (POETF), with a price target of $1.50. The company’s shares closed yesterday at $0.27.
Dede noted:
“Perhaps enough to carry through the DenseLight sale? Earlier this week, POET announced a combination of two separate bridge financing constructs targeting to raise as much as $10.5-15.5M, enough, we think, to fund operations through the sale of its DenseLight fab in Singapore, that in itself could create cash proceeds in the range of C$34.2-39.5M (or $25.6-29.6M) also noted earlier this week—the DenseLight sale, while initially surprising, we think makes good sense per, Should Liberate and Transform, Enabling Design and Development Focus; Reit Buy published Feb. 4.”
https://www.smarteranalyst.com/brief/h-c-wainwright-keeps-their-buy-rating-on-poet-technologies-inc-poetf/
