Oppenheimer Starts Ondas Holdings Inc. (ONDS) at Outperform

Oppenheimer analyst Tim Horan initiates coverage on Ondas Holdings Inc. (NASDAQ: ONDS) with an Outperform rating and a price target of $10.00.

The analyst comments "ONDS's FullMAX platform is well positioned to gain adoption in private mission-critical wireless markets. Its software uses WiMAX standards to aggregate narrow bands of low frequency licensed radio spectrum (50MHz to 1GHz) with high power over a 30-mile radius, perfect for rails, utilities, law enforcement etc. Revenue should grow to ~$53M in 2022 as FullMAX adoption picks up with the help of key partnerships. We view this as a ~$5B sales opportunity over the next ten years and a few hundred million in recurring annual software licensing by then. ONDS’s margin profile should be attractive since it is leveraging its partners' infrastructure and distribution that's already in place."

For an analyst ratings summary and ratings history on Ondas Holdings Inc. click here. For more ratings news on Ondas Holdings Inc. click here.

Shares of Ondas Holdings Inc. closed at $6.92 yesterday.

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