Latest news with #DefenseTech
Yahoo
06-08-2025
- Business
- Yahoo
Snap downgraded, Leidos upgraded: Wall Street's top analyst calls
The most talked about and market moving research calls around Wall Street are now in one place. Here are today's research calls that investors need to know, as compiled by The 5 Upgrades: Jefferies upgraded Leidos (LDOS) to Buy from Hold with a price target of $205, up from $185. The firm cites the potential for Leidos to benefit from Department of Defense priorities such as FAA, Maritime, and Golden Dome as well as the company's position as an "AI beneficiary" and upside from valuing Defense Systems on a Defense Tech multiple. Wells Fargo upgraded Incyte (INCY) to Overweight from Equal Weight with a price target of $89, up from $67. The firm believes the company's Phase 1 update for myelofibrosis in Q4 will be positive. Baird upgraded (MNDY) to Outperform from Neutral with a price target of $310, up from $280. The firm cites valuation for the upgrade following the recent pullback. Stephens upgraded BellRing Brands (BRBR) to Overweight from Equal Weight with a price target of $50, down from $68, after the company posted Q3 sales and EBITDA ahead of expectations. Wells Fargo upgraded Vertex Pharmaceuticals (VRTX) to Overweight from Equal Weight with an unchanged price target of $460. The firm views the pullback in the shares as providing a good entry point. Top 5 Downgrades: Citizens JMP downgraded Snap (SNAP) to Market Perform from Outperform without a price target following the Q2 report. Snap's advertising revenue grew just 4% year-over-year in the quarter, suggesting a loss of market share to other scaled ad platforms, the firm tells investors in a research note. UBS downgraded Gartner (IT) to Neutral from Buy with a price target of $270, down from $480. The firm cites the company's contract value growth for the downgrade. Jefferies downgraded CACI (CACI) to Hold from Buy with a price target of $535, down from $570. The firm forecasts 5% revenue growth for FY26, decelerating sharply from 9% organic growth in FY25, with further deceleration risk on EITaaS. Piper Sandler double downgraded Kemper (KMPR) to Underweight from Overweight with a price target of $50, down from $75. The company's Q2 results were below expectations as policy-in-force growth for the private passenger auto business decelerated along with a material unfavorable reserve development in its commercial insurance business, the firm tells investors in a research note. Canaccord downgraded Vivid Seats (SEAT) to Hold from Buy with a price target of $23, down from $80. The firm cites estimates meaningfully and downgraded the shares citing Vivid's competitive pressure and limited near-term catalysts. Top 5 Initiations: Goldman Sachs reinstated coverage of Shift4 Payments (FOUR) with a Buy rating and $104 price target, which offers 20% upside, following the close of the Global Blue acquisition. The firm views Shift4 as a top growth story and is constructive on the company's approach to acquisitions. Wells Fargo resumed coverage of Alcon (ALC) with an Equal Weight rating and $93 price target. The firm notes that the cataract market was likely weak in Q2 and potential growth acceleration from new product cycle may take longer to materialize. Raymond James initiated coverage of Palvella Therapeutics (PVLA) with an Outperform rating and $54 price target. Given the validated activity of rapamycin, proof-of-concept data in Phase 2, and the high unmet need and patient demand as seen in the over-enrolled SELVA Phase 3 study, QTORIN rapamycin has the potential for blockbuster launch in microcystic lymphatic malformations, with a second potential blockbuster in cutaneous venous malformations, the firm argues. H.C. Wainwright initiated coverage of Indivior (INDV) with a Buy rating and $27 price target. The firm sees a favorable risk/reward at current share levels, saying the durability of Sublocade revenue in the growing long-acting injectable market for opioid use disorder is underappreciated. Leerink initiated coverage of Xilio Therapeutics (XLO) with an Outperform rating and $72 price target. The firm believes Xilio is among the industry leaders of developing protease-masked biologics. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
18-07-2025
- Business
- Bloomberg
Hadrian Raises $260 Million on ‘Factories As a Service'
Defense tech startup Hadrian has raised a $260 million Series C funding round led by Founders Fund. Hadrian CEO Chris Power joins Ed Ludlow on 'Bloomberg Tech' to discuss how the company's tech addresses a manufacturing skills shortage in the US. (Source: Bloomberg)
Yahoo
15-07-2025
- Business
- Yahoo
With Military Drones in Hot Demand, Cantor's Got 2 Stocks You'll Want to Own
War has always been a driver of human invention, and the latest wars in Ukraine and the Middle East are no exception. Both conflicts have been dragging on – the Middle East war for nearly two years, the Ukraine war for three and a half now – and some trends are growing clear. Prime among these: the increasing importance of drone aircraft and high-end air defense systems. Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Ukraine's strike against the Russian strategic bomber force demonstrated the attack capabilities of military drones, while Israel's 12-day campaign against Iran made clear the importance of air defenses in protecting the home front. Defense sector expert Colin Canfield, from Cantor, has been following the developments in the military field, and sees drone technology as a key point for investors to follow. 'We think investor sentiment has materially improved from 1Q, thanks to pragmatism around U.S. defense budget growth, the sustainability of Ukrainian security funding, and likelihood of continued deterioration of global security architectures. However, we think markets are still under-appreciating both the magnitude and the sustainability of growth for Defense Tech, especially in faster-growing areas like drones, air defense, munitions, and directed energy. We admit valuations are stretched, but we also think shares can quickly approach Space-like valuations, as companies benefit from both a robust catalyst cycle and cash flow environment,' Canfield opined. Against this backdrop, Canfield has singled out two drone-tech stocks that could be well-positioned for gains. But is he alone in his optimism? To find out if other analysts share his view, we turned to the TipRanks database. Let's dive in. Kratos Defense (KTOS) First up is Kratos Defense, a San Diego-based defense contractor that specializes in transformative technologies, platforms, and systems, particularly those applied to drone and aerial target vehicles. The company's main customer base resides in the US national security sector, where the company has important contracts with the US Air Force and Navy, as well as with the US Intelligence Community and the Missile Defense Agency. Kratos has multiple programs under development, including various drones, satellites, and microwave electronics – but the company's leading program, generating the most headlines and hype, is the XQ-58 Valkyrie. The XQ-58 is a stealthy unmanned aerial vehicle being developed under the Air Force's Low-Cost Attritable Strike Demonstrator program. The aircraft has been flying since 2019, is anticipated to enter service in the coming years, and has potential to change the way that air warfare is conducted. In short, the XQ-58 was conceived as the embodiment of the 'loyal wingman' concept, a dedicated, combat-capable drone controlled, or overseen, by a manned fighter aircraft. The XQ-58 can have several roles, ranging from advanced reconnaissance to penetrating air defenses and drawing fire, to delivering air-to-air and air-to-ground ordnance. In addition to its 'loyal wingman' design concept, the XQ-58 is capable of autonomous operations, using a combination of stealth, maneuverability, and high subsonic speed to enhance its survivability. It's a flexible airframe, with applications across multiple Defense Department missions. We should note that, while the XQ-58 may be Kratos's leading program, the company has numerous other projects ongoing, and is actively moving to take on new ones. On the latter, the company announced this past June 11 that it had been awarded a $25 million task order from the US Space Force, to provide support ground system capabilities for the Space Force's Evolved Strategic Satellite Communications (ESS) program. This is a vital satellite communications capability of the nation's strategic nuclear command and control. Turning to the financial results, we see that Kratos reported 1Q25 revenues of $302.6 million, beating the forecast by $10 million and growing 9% year-over-year. The company's earnings in the quarter came to 12 cents per share by non-GAAP measures, or 3 cents per share ahead of expectations. Kratos finished Q1 with $263.7 million in cash and cash equivalents on hand, and the company's consolidated backlog, as of March 30, came to $1.5 billion. This stock was named as a Top Pick by analyst Canfield. In his coverage for Cantor, Canfield noted the XQ-58 as a key driver for Kratos's near-term success, writing, 'While we've seen significant run-ups in share price ahead of X-58's expected entry into services (the stock is up 96% year-to-date), we think this time market sentiment is under-appreciating the upside and sustainability of KTOS' growth algorithm, especially as we consider Group 4-5 drones as not a 'winner take all' as implied by CCA, but part of a series of service-branch solutions where each drone fits each mission. In this setup, we especially like the X-58 as U.S. force structure decisions move from survivable to attrition-derived outcomes.' Looking forward, Canfield believes that Kratos holds a sound position to support further growth, with a solid backlog and a strong proposal pipeline. He says of the company's prospects, 'We also think KTOS has best-in-class potential for assuming a greater role in the microwave electronics and munitions markets, thanks to their work around higher-value systems and classified programs… Taken together, we think KTOS is still early innings in its growth trajectory after years of careful investment in drones, and electronics position itself well to take on more significant Prime-like capabilities.' In all, the Cantor analyst rates KTOS as Overweight (i.e., Buy), and he gives it a $60 price target to suggest a one-year gain of 16%. (To watch Canfield's track record, click here) KTOS shares have a Strong Buy consensus rating from the Street, based on 10 reviews that include 8 Buys and 2 Holds. However, the stock is priced at $51.71 and its average target price of $49.57 implies that it will shed 4% in the next 12 months. Given this discrepancy, watch out for price target hikes or rating downgrades shortly. (See KTOS stock forecast) AIRO Group Holdings (AIRO) The second stock we'll look at, AIRO, is new to the public markets, having started trading on Wall Street through an IPO held just last month. The shares represent AIRO Group Holdings, an aerospace and defense company with four operating divisions, focused on drones and other uncrewed air systems; electric and hybrid vertical lifting aircraft; training for both commercial and military aviation; and avionics and electronics systems. The company got its start in urban air mobility but has quickly learned to adapt its technology to the growing demands of the defense industry. AIRO's leading product is its RQ-35 Heidrun drone, which is produced under license in Denmark for the Danish military. The RQ-35 is a battle-proven, man-portable system, designed to be carried by a single user with a specialized backpack, although it is frequently used by small ground crews. The system does not require access to GPS or related navigation systems for successful deployment, can be controlled from a tablet device, and boasts best-in-class flight time and operational range. Also notable among AIRO's programs is its development of EVTOL systems. These are electric vertical take-off and landing craft, designed to carry a small number of passengers and/or gear over ranges of 20 to 100 miles while operating solely on battery power. They offer advantages in flexibility of basing and deployment, as well as noise reduction. AIRO is developing the technology for urban air taxi and cargo services – but also for emergency response missions. The company is developing EVTOL aircraft based on its patented slowed rotor compound (SRC) technology, which is proven to reduce drag and vibration for a quieter, more efficient flight. As noted, AIRO went public last month through an IPO. The company priced the offering on June 12, with 6 million shares made available at $10 each. When the IPO closed on June 16, 6.9 million shares had been sold, and AIRO had raised $69 million in gross proceeds. Checking in again with Canfield, and the Cantor view, we find the analyst upbeat based mainly on AIRO's drone and EVTOL technologies. He says of the company, 'We think of AIRO's equity story as a case of medium-term drone profits being invested in longer-term EVTOL prospects. Starting with drone dynamics, we think continued RQ-35 orders from NATO partners, DoD Blue UAS certification, and accelerating non-NATO demand can combine to support a robust multi-year growth trajectory. Longer term, we also think RQ-35's mission survivability, alt-PNT integration, and ISR capabilities can provide significant land-and-expand opportunities with NATO + other allies. Turning to EVTOL, we think investor sentiment may continue to be mixed, but we think of AIRO investment as an easy risk-adjusted bet by the company to unlock significant value.' Canfield sums it up by noting the stock's prospects, based on its exposure to the defense sector: 'Taken together, we think shares will track to defense sentiment near term as investors parse through organizations best-situated to execute, with longer-term sentiment progression driven by drone orders, air mobility progress, and avionics/training earnings growth.' For the Cantor analyst, this all adds up to another Overweight (i.e., Buy) rating. He backs that up with a $35 price target, showing his confidence in a one-year gain for the stock of 21.5%. AIRO's Strong Buy consensus rating is based on a unanimous 3 Buys while this new stock's $30.67 average target implies shares have upside of 6.5% in them for the next year. (See AIRO stock forecast) To find good ideas for stocks trading at attractive valuations, visit TipRanks' Best Stocks to Buy, a tool that unites all of TipRanks' equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment. Disclaimer & DisclosureReport an Issue Sign in to access your portfolio
Yahoo
11-07-2025
- Business
- Yahoo
MITS Capital Invests $3.74M in Ukrainian Robotics Company Tencore
KYIV, Ukriane and ROME, July 11, 2025 /PRNewswire/ -- Ukrainian-American investment group MITS Capital has invested $3.74 million in Tencore, a Ukraine-based developer of the multi-mission unmanned ground vehicle (UGV) platform TerMIT. The deal was announced at the Ukraine Recovery Conference (URC2025) in Rome. The investment was structured through Ukraine's legal regime and deployed directly into Tencore's Ukrainian legal entity. "MITS Capital is proud to sign the first contract between a US investor and a Ukrainian DefenseTech company," said Perry Boyle, CEO & Founding Partner at MITS Capital. He also emphasized that this transaction sets a precedent for many future deals to come and marks a step toward harmonizing Ukraine's legal regime for technology investments with EU standards. The investment was enabled through close collaboration with the government team, facilitated by the association of Ukrainian product tech companies, United which supported all key stages of the process. Tencore is one of Ukraine's fastest-growing UGV developers. Its flagship platform, TerMIT, is NATO-standardized, battle-tested, and actively deployed on the front lines. The company has already produced over 800 units and intends to boost production to 2,000 units by the end of 2025. The newly secured capital will be used to scale both R&D and manufacturing capacities. "This agreement creates a clear legal path for international investors to deploy capital directly into Ukrainian entities without workarounds," said Denys Gurak, CIO & Founding Partner at MITS Capital. Since early 2025, Ukraine's a special legal regime designed for tech companies, has expanded to the DefenseTech sector, with over 300 defense residents. Article 29 of Ukraine's Law "On Stimulating the Development of the Digital Economy» (also known as the "Diia City law") provides the legal basis for convertible loan agreements, Gurak explained. Investors are further protected by contract clauses that specify the applicable law and arbitration venues, including countries whose judicial decisions are automatically recognized in Ukraine. "This mechanism makes investing in Ukrainian legal entities as secure as investing in a Delaware C-Corp or an Estonian e-Residency company," Gurak added. "Our goal is to get Russia out of Ukraine and Ukraine into NATO's defense supply chain," summarized Perry Boyle, noting that he expects to see more similar deals shortly. About MITS Capital Founded in 2024, MITS Capital LLC is a Kyiv- and New York-based investment group focused on funding Ukrainian defense innovations. Its platform includes the MITS Accelerator, MITS Lightning Fund, and an investment advisory unit, with a mission to bring global capital into Ukraine's defense industrial base. According to the latest Ernst & Young report, MITS Lightning Fund is currently the largest international investor in Ukraine's DefenseTech ecosystem. As of July 2025, MITS Capital's portfolio includes 11 companies. About Tencore Tencore is a Ukrainian developer and supplier of combat-proven robotic platforms, powered by a 200+ person team. Tencore's solutions are co-developed with Ukrainian military personnel and tailored for modern battlefield conditions. The TerMIT platform features a modular architecture that adapts quickly to different mission profiles – from logistics and evacuation to engineering support (including mining and demining), and direct fire support on the front line. About United United is an industry association of over 140 Ukrainian product tech companies. Its mission is to create a global growth environment for Ukrainian tech businesses. About Launched in February 2022, is a special legal and tax framework tailored for the technology sector. As of July 2025, it has over 2,000 registered resident companies. Additional visual materials available here: MITS Capital Tencore Media Contact:Valentyna Dudko397868@ View original content: SOURCE MITS Capital
Bloomberg
07-07-2025
- Business
- Bloomberg
Global X CEO on Product Lineup (SHLD, AIQ, BOTZ, GXIG)
Global X CEO Ryan O'Connor discusses the Global X Defense Tech ETF (ticker: SHLD) which is currently up 58% this year. He also discusses the Artificial Intelligence & Technology ETF (ticker: AIQ), Robotics & Artificial Intelligence ETF (ticker: BOTZ), and the Investment Grade Corporate Bond ETF (ticker: GXIG). (Source: Bloomberg)
