NEW YORK (AP) -- Shares of Uni-Pixel climbed to a multi-year high on Wednesday as it announced a manufacturing and supply deal with Eastman Kodak.
THE SPARK: On Tuesday Uni-Pixel Inc. and Eastman Kodak Co. announced an agreement to produce touch sensors based on Uni-Pixel's UniBoss multi-touch sensor film. The deal calls for the companies to open a new manufacturing plant within Kodak's corporate campus in Rochester, N.Y., later this year to make touch screen sensors.
Financial terms of the agreement were not disclosed.
THE ANALYSIS: Cody Acree of Williams Financial Group boosted Uni-Pixel's price target to $60 from $40. In a client note, the analyst said that the deal with Kodak should allow Uni-Pixel to scale much faster to substantial volumes. Acree also said that Uni-Pixel will probably have an easier time convincing the industry's biggest original equipment manufacturers to use UniBoss if it's built by a company with the capacity and film/printing expertise of Kodak.
The analyst kept a "Buy" rating.
A representative for Uni-Pixel did not immediately respond to an email seeking comment.
SHARE ACTION: Uni-Pixel Inc.'s stock gained $1.25, or 3.4 percent, to $38.52 in afternoon trading. The shares rose as high as $41.42 earlier in the session. FactSet said that was its highest since March 2006. For the year to date, the stock has more than tripled in value.
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