Redwire price target lowered to $20 from $28 at Cantor Fitzgerald

Cantor Fitzgerald lowered the firm’s price target on Redwire (RDW) to $20 from $28 and keeps an Overweight rating on the shares. Despite year-to-date pressures from Space-related exploratory analytical cases and EBITDA and free cash flow compression, the company’s national security satellite manufacturing and unmanned aerial vehicle capabilities offer significant fundamental upside, the analyst says in a research note. Investors will likely focus on signs to shape multi-year EBITDA and free cash flow expectations, particularly around Ka-band antennas, classified work, and competitive drone opportunities, Cantor says.