FireFly Aerospace price target raised to $60 from $35 at Roth Capital

Roth Capital analyst Suji Desilva raised the firm’s price target on FireFly Aerospace (FLY) to $60 from $35 and keeps a Buy rating on the shares after meeting with CEO Jason Kim and CFO Darren Ma. The firm believes FireFly is seeing continued momentum across both launch and spacecraft. The company is using the recent SciTec acquisition to better address space technology and defense spending trends, the analyst tells investors in a research note. Roth says the biggest positive for FireFly is NASA’s plan to pursue a roadmap in the next few years to a far higher lunar cargo mission cadence of one per month.

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