H.C. Wainwright raised the firm’s price target on Draganfly (DPRO) to $7 from $5 and keeps a Buy rating on the shares. The recent share outperformance is largely driven by recent military contract wins within the unmanned aerial vehicle industry, the analyst tells investors in a research note. The firm says that while larger military contracts have not yet materialized for Draganfly, continued contact with the Department of Defense and a small purchase order for its Commander 3XL drone announced in September are positive signs.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on DPRO:
- Draganfly Advances Drone Delivery for Healthcare
- Draganfly completes first proof-of-concept flights in drone delivery project
- Draganfly Completes $3.76 Million U.S. Offering
- Draganfly Secures $3.76 Million in Direct Offering
- Draganfly Offers Warrant for 1.6 Million Shares
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
