BigBear.ai initiated with a Buy at H.C. Wainwright

H.C. Wainwright initiated coverage of BigBear.ai with a Buy rating and $4 price target. The company’s artificial intelligence-powered decision intelligence solutions address the needs of three primary markets: supply chains logistics, cybersecurity, and autonomous systems, the analyst tells investors in a research note. The firm says that with an existing backlog exceeding $206M and a customer base comprised of recognized commercial and government entities, it believes BigBear.ai is positioned to be a leader in the growing field of AI driven data analytics. It recommends investors accumulate the shares ahead of an acceleration in revenue growth in 2024.