Redwire price target raised to $10 from $8.25 at Alliance Global Partners

Alliance Global Partners analyst Brian Kinstlinger raised the firm’s price target on Redwire (RDW) to $10 from $8.25 and keeps a Buy rating on the shares after the company reported quarterly results. The firm said that Q3 top-line growth remains solid, adding that growth in space-related budget for defense and for NASA were much stronger under President Trump, and his return to office is bullish for the space industry, in the analyst’s view. Although AGP increased its revenue estimates, it tempered its adjusted EBITDA projections as it expects a slower recovery to the gross margin given the company’s focus on larger deal sizes.