© Reuters. Northland raises Himax price target after iPhone event
- Northland Capital Markets raises its price target on vertical-cavity surface-emitting laser (VCSEL) company Himax Technologies (NASDAQ:) to $15 and maintains an Outperform rating.
- Analyst Tom Sepenzis cites yesterday’s Apple (NASDAQ:) launch, which featured the first iPhone with 3D sensing through VCSEL tech, saying he expected “more use cases” but that “much of the premium involves the addition of an OLED infinity display.”
- Sepenzis thinks Apple will keep working with developer partners to continue expanding its 3D apps beyond emojis and authentication.
- Source: StreetInsider
- Himax shares are down 4%.
- Previously: Himax down 6.4% on Oppenheimer note, response email (Sept. 7)