Market News

Drone Delivery, Nexeya Canada Announce Deal to Collaborate

Drone Delivery Canada (FLT) has signed a 24-month sales collaboration agreement with Nexeya Canada, a Hensoldt Company. Nexeya provides electrical interconnect test solutions worldwide.

Under the agreement, effective August 16, the two companies will work together to identify, develop and bid on military opportunities for DDC’s drone solution. (See FLT stock charts on TipRanks)

Nexeya CEO Michael Della Fortuna said, “With the formalization of a working relationship with Drone Delivery Canada, we are eager to explore opportunities where we can deliver our industry leading sensor solutions in a new and innovative manner.

“We look forward to collaborating with Drone Delivery Canada and developing a stronger, combined offering, for our commercial and military customers.”

Last month, Canaccord Genuity analyst Doug Taylor maintained a Buy rating on FLT with a price target of C$1.76. This implies 36.6% upside potential. Shares of the company have gained over 57% year-to-date.

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