B. Riley upgraded Redwire to Buy from Neutral with an unchanged price target of $8. The analyst attributes the recent drop in the shares to valuation concerns as well as reaction to a string of open market sales by controlling owner AE Industrial Partners. However, Redwire “remains entrenched on a shortlist of winners” in the new space economy, fueled by a strong portfolio of proprietary products and services that are enabling the next generation of space exploration and habitation, the analyst tells investors in a research note.
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