0016 GMT - Shaw and Partners senior analyst Abraham Akra is feeling more upbeat on anti-drone company DroneShield after it received a repeat order from a U.S. government customer for its dismounted Counter-UxS systems. Akra says DroneShield's 2H revenue is now "de-risked" and that the order brings DroneShield closer to reaching the 2H revenue consensus expected by analysts. Looking ahead, Akra notes there is optimism that anti-drone legislation will pass in the U.S. Congress, increasing the size of the U.S. market for DroneShield, while conflicts in Ukraine and the Middle East are bringing a focus on anti-drone technology. Akra has a buy rating on DroneShield with a target price of A$1.30/share, roughly in line with recent trading at A$1.32/share, though he notes the stock is considered high risk. (mike.cherney@wsj.com; @Mike_Cherney)
(END) Dow Jones Newswires
October 08, 2024 20:16 ET (00:16 GMT)
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