SKYX Platforms price target lowered to $5 from $15 at Benchmark

Benchmark lowered the firm’s price target on SKYX Platforms to $5 from $15 and keeps a Buy rating on the shares after SKYX gave its first quarterly update following the acquisition of Belami. Benchmark remains focused on sales/licensing opportunities and on adoption of the SkyPlug over the longer term as the key catalyst for the stock, the analyst tells investors in a research note.