Palladyne AI price target raised to $8 from $7 at Jefferies

Jefferies analyst Greg Konrad raised the firm’s price target on Palladyne AI (PDYN) to $8 from $7 and keeps a Hold rating on the shares. The company’s Q4 results pointed to progress with key proof points around the AI offering, coupled with M&A, enhancing the move into AI-centric hardware, the analyst tells investors in a research note. The firm is also positive on the company’s opportunities across swarming AI, industrial robots, loitering munitions, missiles, and a further move into the space domain, Jefferies adds.