As previously reported, Stifel analyst Jonathan Siegmann initiated coverage of Ondas (ONDS) with a Buy rating and $13 price target The firm, which views Ondas as “positioned to emerge a leader in the unmanned systems space,” thinks investors “should not be distracted by inflated multiples on current and near-term estimates,” arguing that these multiples reflect how early the company and the drone industry is in “its disruptive penetration of the military force structure.”
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