Palladyne AI initiated with an Outperform at Northland

Northland initiated coverage of Palladyne AI (PDYN) with an Outperform rating and $10 price target Unmanned aerial vehicles, or UAVs, can operate as a fleet or swarm, expanding surveillance and kinetic strike potential, notes the analyst, who calls Palladyne AI “one of the few companies” to provide swarming software and AI. This creates “a large emerging opportunity,” the analyst tells investors.