Spire Global price target raised to $18 from $12 at Canaccord

Canaccord raised the firm’s price target on Spire Global (SPIR) to $18 from $12 and keeps a Buy rating on the shares. The firm noted Spire Global announced that it has reached an agreement with Kpler, a global trade intelligence platform, to sell its AIS maritime data business for about $241M. Canaccord said the proceeds obtained from the sale enables Spire to eliminate all of its outstanding debt with Blue Torch Capital and pursue further growth opportunities for its weather/aircraft data analytics and RF geolocation solutions offerings.