Oppenheimer initiated coverage of BlackSky Technology with an Outperform rating and $10 price target The company has invested over $500M to develop a “unique” constellation of low-Earth-orbit satellites to deliver geospatial-based intelligence, the analyst tells investors in a research note. The firm says BlackSky has created the market of global, high resolution imaging, almost hourly with unique software to easily capture and analyze the images. Oppenheimer sees this as a large $80B plus market growing 12% per year. It believes the company can grow revenues to the $500M range in the next seven years and free cash flow over $100M.
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