Bridger Aerospace initiated with a Buy at Canaccord

Canaccord initiated coverage of Bridger Aerospace with a Buy rating and $5.50 price target. Bridger is the world’s single largest commercial provider of aerial firefighting services, and the only one that is publicly traded, the analyst tells investors in a research note. The firm says the company operates a diverse fleet of aircraft designed for direct air attack and surveillance of major wildfires on behalf of U.S. and international government customers. Bridger has recently expanded its operations into both Canada and Europe as the company faces an “insatiable demand for aerial firefighting,” contends Canaccord.