Spire Global (SPIR) PT Raised to $19 at Stifel After Canadian WildFireSat Contract End Announced

Stifel analyst Erik Rasmussen raised the price target on Spire Global (NYSE: SPIR) to $19.00 (from $16.00) while maintaining a Buy rating.

The analyst commented, "Spire announced the official termination for convenience of its Canadian WildFireSat contract, a development that had been anticipated and disclosed previously. Management first communicated a pause to the program during its 4Q25 earnings call and excluded all associated revenue from its 2026 outlook, thus there is no impact on its annual guidance, which calls for revenue of $75M- $85M (>50% y/y growth excluding the Maritime divestiture), with adjusted EBITDA breakeven by late 2026 or early 2027. The terminated contract carried a potential value of CAD$71.8M, but was not for cause or default, and thus Spire retains the right to seek reimbursement for costs incurred through a formal proposal due May 7, 2026. Looking past the WildFireSat program loss, Spire is increasingly focused on highervalue, long-duration government and defense opportunities across RF intelligence, weather, and space reconnaissance, supported by a strengthened balance sheet following its $70M private placement."

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