Redwire price target raised to $6 from $5 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on Redwire to $6 from $5 and keeps an Overweight rating on the shares. Redwire reported a Q1 revenue beat, positive cash flow and reaffirmed its 2024 guidance, the analyst tells investors in a research note. The firm sees Redwire’s success as highly correlated with the continued growth of the space industry, and continues to believe Redwire’s benefits from a sizable order pipeline and contracted awards, as well as diversification across products, customer types, and geographies.