Dragonfly Energy price target lowered to $1.50 from $3 at Canaccord

Canaccord lowered the firm’s price target on Dragonfly Energy (DFLI) to $1.50 from $3 and keeps a Buy rating on the shares. The firm said Dragonfly’s fundamentals appear to have bottomed for now. The company showed quarter over quarter growth in 1Q25 and the second consecutive quarter of year over year growth. Guidance also implied quarter over quarter and year over year growth. Canaccord continues to believe that Dragonfly is uniquely positioned to positively alter battery manufacturing economics through dry deposition in the medium-term and offer true solid-state energy storage cells over the long-term.