Spire Global price target raised to $16 from $15.50 at Canaccord

Canaccord raised the firm’s price target on Spire Global (SPIR) to $16 from $15.50 and keeps a Buy rating on the shares. The firm said the completion of the Maritime asset sale to Kpler was a key concern among investors and represents a substantial retirement of risk for the company. Canaccord now views Spire as an execution story as the company looks to establish new timelines for sustained positive EBITDA/FCF generation following completion of the deal, in addition to achieving target 2026 organic top-line growth of roughly 20%.