DroneShield Loses Bull Amid Slow Contract Announcements -- Market Talk

Dow Jones

2024-10-09

DRONESHIELD LTD0.00%

2227 GMT - Bell Potter analyst Daniel Laing sounds an alarm about Australian anti-drone company DroneShield, saying that he had expected a greater value of contracts to be announced by this stage in the year. He downgrades the stock to hold from buy and cuts his 2024 annual revenue estimate by 15%. But he points out there is still upside risk to his new forecasts: multiple contracts could still be announced before the end of the year, and there could be greater underlying sales than anticipated in 3Q and 4Q. He expects a 3Q update from the company in the coming weeks. (mike.cherney@wsj.com; @Mike_Cherney)

(END) Dow Jones Newswires

October 09, 2024 18:27 ET (22:27 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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