Palladyne AI initiated with a Hold at Jefferies

Jefferies initiated coverage of Palladyne AI (PDYN) with a Hold rating and $8 price target The refinement of Palladyne’s Foundational AI/ML software has supported the development of two unique software offerings to add human like ability to robots and drones, but the firm wonders “Is it A Drone, Industrial or AI Play?” The firm’s baseline assumption of a 67% revenue compound annual growth rate supports a current share price of $8 with “high option value,” the analyst tells investors.