Maxim Group analyst Matthew Galinko has maintained their bullish stance on DPRO stock, giving a Buy rating yesterday.
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Matthew Galinko has given his Buy rating due to a combination of factors that highlight Draganfly’s potential for growth and market positioning. The company has demonstrated a significant increase in production capacity, which aligns with the anticipated rise in global demand for drones, particularly in defense and commercial sectors. Draganfly’s recent contract with the U.S. Army for its Flex FPV drone systems serves as a validation of its platform and enhances its credibility in the defense market.
Additionally, the company’s strategic move to secure orders from a Fortune 50 telecom company for its heavy-lift drones underscores its capability to support critical infrastructure needs during natural disasters. Despite a recent revenue shortfall, Draganfly maintains a strong cash position with no debt, providing it with the financial flexibility to sustain operations and scale production. Galinko’s optimism is further reflected in the raised price target, which is now based on a higher revenue multiple, indicating confidence in Draganfly’s future revenue growth and market expansion.
In another report released yesterday, Needham also maintained a Buy rating on the stock with a $14.00 price target.
DPRO’s price has also changed dramatically for the past six months – from C$2.600 to C$10.100, which is a 288.46% increase.