Following the announcement of Orbital UAV’s new engine development program and supply agreement with Textron / Lycoming, equities research company PAC Partners has released an updated research report.
Senior Analyst Heath Andrews, provides a Buy recommendation with a 12-month price target of $1.45/share.
Access the full report here.
In his Investment View, Andrews writes: “OEC has a market leading product that is hard for competitors to replicate. It is steadily growing the customer base and has several contracts that will generate high revenue growth as they convert to engine production. While FY21 is likely to be a year of finalising design works, high growth should return in FY22 and onwards.