economy
Wall Street sees more gains ahead for this SpaceX supplier
A slew of Wall Street analysts initiated coverage of Applied Aerospace & Defense at an outperform- or buy-equivalent rating.
TL;DR
- Applied Aerospace & Defense (AADX) went public through a merger and is supported by investors entering the space trade via SpaceX.
- The company is a defense supplier focused on critical subsystems for platforms including aircraft, missiles, and space systems.
- Wall Street analysts initiated coverage with 'outperform' or 'buy' ratings, citing growth potential and market position.
- Analysts forecast mid-teen organic sales growth and 20% EBITDA growth in the coming years.
- The company's expertise in material science and manufacturing capacity makes it an appealing partner in a scaling defense industry.
- Price targets from various firms range from $23 to $30, suggesting significant upside potential.