BlackSky price target raised to $18 from $17 at Benchmark

Benchmark analyst Josh Sullivan raised the firm’s price target on BlackSky (BKSY) to $18 from $17 and keeps a Buy rating on the shares, citing the company’s “significant” contract win rate in Q1 and successful GEN-3 satellite deployment. BlackSky backlog grew 50% year-over-year in the quarter, demonstrating the increasing interest in BlackSky’s geospatial offering, says the analyst, who believes this trend will continue to accelerate, driving BlackSky’s conversion.