Draganfly price target raised to $7 from $5 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Draganfly (DPRO) to $7 from $5 and keeps a Buy rating on the shares. The recent share outperformance is largely driven by recent military contract wins within the unmanned aerial vehicle industry, the analyst tells investors in a research note. The firm says that while larger military contracts have not yet materialized for Draganfly, continued contact with the Department of Defense and a small purchase order for its Commander 3XL drone announced in September are positive signs.