Unusual Machines price target raised to $22 from $20 at Needham

Needham raised the firm’s price target on Unusual Machines (UMAC) to $22 from $20 and keeps a Buy rating on the shares. The company’s better than expected Q1 revenue is reinforcing the firm’s conviction that UMAC is a key beneficiary of the U.S. drone supercycle, the analyst tells investors in a research note. Needham adds that it expects the Street estimates to continue moving higher throughout the year, given its view that Unusual Machines has a clear path to a $100M revenue run-rate by 2027 as the drone supercycle accelerates.