Dragonfly Energy price target lowered to $3.25 from $22.50 at Canaccord

Canaccord lowered the firm’s price target on Dragonfly Energy (DFLI) to $3.25 from $22.50 and keeps a Buy rating on the shares. The firm said while December-quarter results were in line, 1Q26 guidance was relatively weak. They Dragonfly executed a series of pivotal financings that effectively stabilized its capital structure. However, in light of the implied burn rate for 1Q26, they are keeping a watchful eye on the company’s liquidity position. The target change is to reflect 10:1 stock split and their revenue/profitability assumptions based on continued weakness.