Stifel analyst Jonathan Siegmann reiterated a Buy rating and $18.00 price target on Ondas Holdings Inc. (NASDAQ: ONDS).

The analyst commented, "Better Q4 revenues + adding new manufacturing platform validates positive thesis. This morning ONDS pre-announced better-than-expected Q4 revenues (+600% YoY) and more importantly, announced a $175m merger with Mistral, Inc – an established privately owned integrator for the Department of War, other government agencies, and prime contractors. ONDS and Mistral overlap in multiple verticals across drones, C-UAS, and robotics. Financial details for the merger were not disclosed but by our estimates this combination likely ~doubles ONDS’s 2026 revenue base and accelerates the company reaching positive EBITDA earlier into 2026. While growth at Mistral was likely moderate historically, the company has won a franchise agreement in loitering munitions partnered with UVision. We anticipate ONDS will have many new positives to highlight when they report their FY results on March 25th. ONDS remains a top idea and re-affirm our Buy recommendation."

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Shares of Ondas Holdings Inc. closed at $9.72 yesterday.