UPDATE: Jefferies Starts Redwire (RDW) at Buy
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Jefferies analyst Greg Konrad initiates coverage on Redwire (NYSE: RDW) with a Buy rating and a price target of $15.00.
The analyst commented, "Redwire offers a diversified portfolio of space components that are well-positioned to capture emerging trends around a growing number of small sat launches and expansion into deep space exploration, as well as battle-tested products that provide a solid revenue base. This diversification supports a 60% revenue CAGR through 2025. As a high-growth company, valuation looks attractive (12X '23E EBITDA) with potential upside in rerating and hitting growth targets."
Shares of Redwire closed at $10.48 yesterday.
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