Canaccord yesterday morning resumed coverage of AeroVironment (AVAV) with a Buy rating and $305 price target, Leonardo DRS (DRS) with a Buy rating and $50 price target, and Kratos Defense (KTOS) with a Buy rating and $74 price target. The Pentagon’s fiscal 2026 budget request contains $9.4B in funding for unmanned systems technology, which includes aircraft, ground robots, surface vessels and underwater vehicles, the analyst told investors in a research note. In addition, $3.1B has been allocated for counter-drone systems, added the firm. Canaccord believes drones and spacecraft are reshaping warfare and recommends exposure to the space.
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