Cantor Fitzgerald sees shares of FireFly Aerospace (FLY) “materially” outperforming today following last night’s Q3 report. The company communicated a return to flight for Alpha in late Q4 or early Q1, accelerating hypersonics demand for Alpha, better than expected sales guidance, and beat Q3 sales and EBITDA estimates on an organic basis, the analyst tells investors in a research note. Cantor believes investors were also provided a reminder of SciTec’s growth visibility with the disclosure of $170M of backlog. It has an Overweight rating on FireFly with a $65 price target The stock in premarket trading is up 22% to $22.20.
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