Alliance Global Partners raised the firm’s price target on Redwire (RDW) to $16 from $10 and keeps a Buy rating on the shares. The company was awarded $44.5M in contract awards during Q3 and on a trailing 12-month basis Redwire has been awarded $371M of contracts, notes the analyst, who argues that surging proposal submissions suggests bookings trends “should pick up dramatically.” The firm raised its EV/Sales multiple in anticipation of larger expected contract awards, the analyst noted.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RDW: