Merlin price target raised to $25 from $15 at Roth Capital

Roth Capital raised the firm’s price target on Merlin (MRLN) to $25 from $15 and keeps a Buy rating on the shares. Most revenue to-date is coming from large US government customer programs as expected, and the firm expects a ramp here in the coming quarters, the analyst tells investors in a research note. Roth adds it continues to believe that Merlin is funded with post-business combination of close cash to execute its operating plan for the next few years.