Lake Street raised the firm’s price target on BlackSky (BKSY) to $28 from $18 and keeps a Buy rating on the shares after the company reported preliminary Q2 revenue, lowered its 2025 outlook, indicated it sold 3.1M shares under its ATM, and announced $160M of 8.25% convertible notes due 2033 last week. The firm, which remain encouraged by the continued win announcements since Q1 earnings and the “healthy backlog,” believes the positive sentiment on the broader aerospace and defense sector is likely to persist, which could help drive BlackSky’s multiple higher.
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