BlackSky price target raised to $50 from $31 at Oppenheimer

Oppenheimer raised the firm’s price target on BlackSky (BKSY) to $50 from $31 and keeps an Outperform rating on the shares. The firm notes the company reported Q1 revenue $21M, a miss but on timing issues as it ramps satellite launches. Intelligence revenue is set to double in the next three quarters and ramp into next year, which is recurring with no churn, Oppenheimer says, adding that Bookings and pipeline are strong and accelerating.