H.C. Wainwright lowered the firm’s price target on Draganfly to $1 from $2.50 and keeps a Buy rating on the shares. While the share issuance puts pressure on Draganfly shares, the operating expectations for 2024 are unchanged, the analyst tells investors in a research note. The firm says that as revenue increases meaningfully in 2024, Draganfly’s path to profitability becomes clearer, which should attract new investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% 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>>
See the top stocks recommended by analysts >>
Read More on DPRO:
- Draganfly 13.4M share Spot Secondary priced at 27c
- Draganfly Announces Pricing of US$3.6 Million Underwritten Public Offering
- Draganfly announces offering of common stock, warrants
- Draganfly selected as exclusive partner of UGoC to provide UAV solutions
- Draganfly Selected as an Exclusive Partner of the Ulkatcho First Nation’s, Ulkatcho Group of Companies to provide UAV Solutions, Services, Training, Public Safety, and Emergency Response within the Ulkatcho First Nation