Lake Street starts ‘compelling’ Palladyne AI with a Buy

As previously reported, Lake Street analyst Max Michaelis initiated coverage of Palladyne AI (PDYN) with a Buy rating and $11 price target calling it “one of the most compelling and differentiated small-cap opportunities in the defense technology space” combining patented swarming autonomy software, proprietary loitering munitions and cruise-class autonomous systems, next-generation avionics, and certified U.S.-based precision manufacturing. Given robust defense spending and rising demand for attritable, collaborative drone systems, the firm believes “Palladyne is squarely positioned at the center of where U.S. defense spending is headed,” the analyst tells investors.