Unusual Machines initiated with a Buy at Needham

Needham analyst Austin Bohlig initiated coverage of Unusual Machines (UMAC) with a Buy rating and $15 price target The U.S. is at the front end of an “unprecedented” investment cycle for small, low-cost UAS – Unmanned Aircraft System – as recent conflicts have highlighted the strategic value of First Person View ISR – Intelligence, Surveillance, and Reconnaissance – and one-way attack attributable systems, the analyst tells investors in a research note. To meet this demand, securing a U.S.-based supply chain from China for critical drone components has become a national priority, and Unusual Machines is among the best-positioned domestic suppliers of flight-critical NDAA-compliant components to capitalize on this reshoring trend, the firm added.