Redwire price target raised to $30 from $16 at Roth MKM

Roth MKM raised the firm’s price target on Redwire (RDW) to $30 from $16 and keeps a Buy rating on the shares following the company’s deal to acquire Edge Autonomy. The firm noted that the acquisition extends Redwire’s platform offerings to include airborne systems combined with the company’s existing space systems capabilities. Roth MKM added that it is “encouraged” by the diversification into defense customers from existing civil/national security customers. The firm told investors that it believes the significant combined profitability improvement positions for Redwire can better support execution and further incremental inorganic activity.