Tate Sullivan, an analyst from Maxim Group, maintained the Buy rating on XTI Aerospace. The associated price target remains the same with $3.00.
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Tate Sullivan has given his Buy rating due to a combination of factors surrounding XTI Aerospace’s recent strategic moves and financial outlook. The acquisition of Drone Nerds, a leading drone distributor in the U.S. with a strong revenue track record, is a significant factor. This acquisition is expected to enhance XTIA’s portfolio in the vertical-flight and unmanned aircraft systems sector, aligning with the company’s strategic goals.
Additionally, the $25 million funding from Unusual Machines further strengthens XTIA’s financial position, providing capital for future growth and development. The company’s plans for a piloted TriFan 600 demonstration flight and the anticipated increase in revenue and narrowing of EBITDA losses in the coming years contribute to a positive outlook. These elements, combined with a detailed 10-year DCF analysis, support the Buy rating and the $3.00 price target set by Sullivan.
According to TipRanks, Sullivan is a 2-star analyst with an average return of 0.4% and a 47.98% success rate. Sullivan covers the Industrials sector, focusing on stocks such as Seanergy Maritime, ABM Industries, and Tetra Tech.