Noble Capital initiated coverage of SKYX Platforms with an Outperform rating and $5 price target. The developer of smart home technologies that improve safety in residential and commercial buildings could offer investors significant upside due to the growth of the smart home technology industry, “as well as the prospect for one of the most impactful electrical safety developments in the last 40 years,” the analyst tells investors. The firm estimates revenue will grow roughly 60% from the prior year to reach $94.1M in 2024 and in 2025 it expects revenue to grow to $140.3M.
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