Draganfly price target lowered to $1 from $2.50 at H.C. Wainwright

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.