Goldman Sachs analyst Noah Poponak initiated coverage of FireFly Aerospace (FLY) with a Neutral rating and $54 price target The firm says FireFly has a “differentiated product in a supply constrained” launch industry. It sees significant growth as the company increases its launches and delivers on large contracts in its backlog. However, Firefly does not generate positive earnings or free cash flow, the analyst tells investors in a research note.
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