Alliance Global Partners raised the firm's price target on Coda Octopus to $10 from $8 and keeps a Buy rating on the shares. The firm notes the company reported Q2 revenue of $7.0M, which implies 32% year-over-year growth and was above its $4.5M estimate. Excluding the $1.3M contribution from Precision Acoustics, revenue would have been up 7% year-over-year. Alliance Global Partners also points out that Coda continues to make progress on DAVD development/adoption, its largest market opportunity.
