Airo Group price target lowered to $20 from $35 at Cantor Fitzgerald

Cantor Fitzgerald analyst Colin Canfield lowered the firm’s price target on Airo Group (AIRO) to $20 from $35 and keeps an Overweight rating on the shares. While Airo posted a “disappointing” Q3, there is still a significant amount of value for a critical drone supplier for both the EU and U.S., the analyst tells investors in a research note. The firm thinks the magnitude of the miss has reset expectations and the stock is in a “show me” period for the foreseeable future.