Airo Group initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage of Airo Group (AIRO) with an Overweight rating and $35 price target Buyside sentiment is increasingly pivoting from expectations of U.S. Government funding and Ukrainian security shortfalls, to crowding around the fastest Defense Tech growth algorithms, and at a high level, Airo’s equity story is a case of medium-term drone profits being invested in longer-term electric vertical take-off and landing prospects, the analyst tells investors in a research note. Cantor also likes Airo’s prospects around avionics and training due to the sustained growth outlook for Aerospace demand and especially the constrained nature of training and avionics alternatives.