Northland analyst Michael Latimore raised the firm’s price target on Red Cat (RCAT) to $16 from $15 and keeps an Outperform rating on the shares after the company announced they signed the TD3 LRP contract with the U.S. Army to deliver up to 690 SRR Black Widow systems for federal FY25. The firm, which estimates the value to be $40M+, sees visibility into FY26 as “high now.”
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