Needham Starts Draganfly Inc. (DPRO) at Buy

Needham analyst Austin Bohlig initiates coverage on Draganfly Inc. (NASDAQ: DPRO) with a Buy rating and a price target of $20.00.

The analyst comments "We are initiating coverage on Draganfly (DPRO) with a buy rating and $20 price target. We believe the unmanned aerial systems (UAS) industry is entering a multi-year supercycle, and view Draganfly as a uniquely positioned pure-play drone company to capture accelerating demand across North America. Headquartered in Canada, we believe DPRO's new drones stand to benefit from the nation’s record defense investments, while simultaneously participating in the U.S. drone supercycle through potential high-volume defense programs. Beyond defense, we believe DPRO is also poised to capitalize on the rapid expansion of commercial drone adoption, supported by BVLOS regulatory shifts in North America. We believe these powerful tailwinds, coupled with the potential for M&A, positions DPRO for an inflection in revenues and industry-leading growth."

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

Shares of Draganfly Inc. closed at $8.55 yesterday.

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