BlackSky Technology Inc. (BKSY) PT Raised to $42 at H.C. Wainwright

H.C. Wainwright analyst Scott Buck raised the price target on BlackSky Technology Inc. (NYSE: BKSY) to $42.00 (from $28.00) while maintaining a Buy rating.

The analyst commented: "Shares of BlackSky Technology Inc, have increased 31.7% since the company's inclusion in H.C. Wainwright's top picks for 2H25 report on July 11, versus a 9.1% increase in the Russell 2000. Outperformance, in our view, is being driven by a combination of strong underlying secular trends in both defense and space technology as well as expectations for accelerating revenue growth and a material expansion of adj. EBITDA in 2026. While U.S. government budget uncertainties are likely to continue near term, we suspect these headwinds should be resolved by early 2026. Accelerating revenue growth should be driven by the deployment of Gen-3 satellites through the remainder of 2025 and 1H26 which should unlock meaningful revenue opportunities with new and existing customers. Our optimism is further supported by strong underlying secular trends, including an elevated level of geopolitical tension and higher global defense spend as NATO countries decouple from the United States. In addition, as the company maintains an enterprise value exceeding $1.0B, we believe the door opens for new institutional investors to acquire BKSY shares. As a result, one year from now we expect revenue to be materially higher, led by customer adoption Gen-3 capabilities and the investor discussion to shift towards the opportunity in digital mapping from the acceleration of the AROS program. Given the revenue opportunities over the next several years, and operating leverage in the business model, we are increasing our forward revenue multiple to 9.0x from 6.0x. This results in an increase in our price target to $42 from $28. We remain Buy-rated on BKSY shares."

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