Needham starts Ondas with a Buy, adds to Conviction List

As previously reported, Needham initiated coverage of Ondas (ONDS) with a Buy rating and $5 price target while adding the stock to the Needham Conviction List. The unmanned aerial systems industry is entering a multi-year supercycle, says the analyst, who views Ondas as “one of the best-positioned U.S. based pure-play drone companies.” Ondas’ end-to-end portfolio targets high-growth verticals, creating a near-term $5B-plus opportunity, adds the analyst, who sees Ondas delivering “industry-leading growth.”