Alliance Global Partners analyst Brian Kinstlinger raised the firm’s price target on Redwire to $6 from $5 and keeps a Buy rating on the shares after the company reported Q4 revenue higher than the firm’s estimate. Based on awards, management expects to generate revenue of $300M in 2024, versus the consensus estimate of $279M, notes the analyst, who argues that Redwire is “in a prime position to benefit from the burgeoning demand for space infrastructure.” Given the company’s scale and experience in the sector, it is bidding on much larger programs than it did in the past, the analyst added.
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