Canaccord Genuity lowered its price target for LightPath Technologies (NASDAQ: LPTH) to $15.50 from $16.50. The firm maintained its Buy rating following a significant share price decline in late August.
The U.S. Army is broadening its search for suppliers for the Next Generation Short Range Interceptor (NGSRI) program. This program serves as the intended replacement for the Stinger missile. LightPath acts as a supplier to Lockheed Martin, one of two primary contractors for the project.
This shift introduces new competition and extends the original production timeline. The Army delayed its production decision from the fourth quarter of 2026 to after a planned demonstration in spring 2027.