Bridger Aerospace price target lowered to $5.25 from $5.50 at Canaccord

Canaccord analyst Austin Moeller lowered the firm’s price target on Bridger Aerospace to $5.25 from $5.50 and keeps a Buy rating on the shares. The news that Tim Sheehy has resigned to run for the U.S. Senate seat in Montana doesn’t necessarily come as a surprise considering that Sheehy won the primary election in early June and announced his run for the U.S. Senate in 2023, the analyst tells investors in a research note. Sheehy’s exit resulted in additional changes to the board, opening the slot of Executive Chairman for Jeffrey Kelter, with the company filling the remaining opening with Dan Drohan, and Bridger acquired FMS Aerospace for $20.6M in stock, the firm adds.