Redwire initiated with a Buy at Canaccord

Canaccord initiated coverage of Redwire (RDW) with a Buy rating and $20 price target Redwire is a diversified space and defense technology system supplier and mission enabler, the analyst tells investors in a research note. The firm says the company is reinvigorating its portfolio with new high-growth, margin-accretive product lines. Redwire has the potential to transition into a solution provider of interconnected, end-to-end space and defense platforms across domains, contends Canaccord.