Craig-Hallum analyst Jeff Van Rhee upgraded BlackSky to Buy from Hold with an unchanged price target of $10. BlackSky has “always had a compelling business,” says the analyst, who now sees the company being on “a much stronger footing” following the $46M equity raise that “saves the balance sheet.” With the raise of $46M, the firm sees the company as having sufficient cash to reach free cash flow breakeven, with “additional breathing room” if they were to scale back capital expenses.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BKSY:
- BlackSky awarded five-year $290M NGA contract
- BlackSky rises 6.4%
- BlackSky initiated with an Outperform at Oppenheimer
- BlackSky wins $6M contract expansion from defense sector customer
- BlackSky price target adjusted to $32 from $4 at Lake Street after reverse split