H.C. Wainwright analyst Scott Buck raised the firm’s price target on Draganfly (DPRO) to $6 from $3.50 and keeps a Buy rating on the shares. The company announced that its Commander3 XL UAV has been selected by a major branch of the Department of Defense for advanced operation initiatives, the analyst tells investors in a research note. While the announcement will not be a direct driver of material revenue, it represents another step towards larger and more meaningful Department of Defense contracts, the analyst tells investors in a research note. The firm believes the business is approaching an inflection point.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DPRO:
- Draganfly’s Commander3 XL UAV Chosen by U.S. Department of Defense
- Draganfly says Commander3 XL UAV selected by U.S. DoD branch
- Draganfly’s Strategic Positioning in the Expanding Drone Market: A Buy Recommendation by Scott Buck
- Draganfly price target lowered to $3.50 from $5 at H.C. Wainwright
- Draganfly and TB2 Aerospace Achieve Milestone in Autonomous Drone Logistics