The renewed global interest in lunar exploration is driving a surge in investment and innovation among private aerospace firms. This heightened focus on space technology is setting the stage for companies like Firefly Aerospace (NASDAQ:FLY) to capitalize on advancing spacecraft capabilities and growing demand for lunar missions.
Firefly Aerospace has a strong spacecraft product portfolio and is the first commercial company to successfully land on the moon, according to Cantor Fitzgerald.
The Firefly Aerospace Analyst: Analyst Colin Canfield initiated coverage with an Overweight rating and a price target of $65.
- FLY is at significant support. Track the action here.
The Firefly Aerospace Thesis: Firefly Aerospace went public on Aug. 7 and its stock is likely to outperform "as the company achieves significant growth catalysts in each of its end markets," Canfield said in the initiation note.
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The company's launch vehicles Alpha and Eclipse are expected to demonstrate "faster cadence, better price, and increased mission scope," he stated.
Opportunities for the Blue Ghost lunar lander and Elytra satellite are growing, driven by NASA's fixed-price needs and intelligence budget tailwinds, the analyst added.
"Space has historically been capital-intensive, but we expect demand tailwinds can enable healthy cash trends in launch, while FLY's healthy cash balances enable higher-margin M&A over time," he further wrote.
FLY Price Action: Firefly Aerospace shares were down 2.84% at $44.08 at the time of publication on Tuesday, according to Benzinga Pro data.
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