Australia's DroneShield rises as Bell Potter hikes PT on industry tailwinds

DroneShield

15/04/2025 04:20

** Shares of DroneShield DRO.AX rise 9.2% to A$1.13, their highest levels since March 21

** The drone technology co announced a package of five standalone, repeat contracts from a military customer for A$32.2 million ($20.43 million)

** Bell Potter says that global military expenditure is forecast to increase, providing macro tailwinds to defence sector and underpinning drone technology as key area for investment

** Brokerage increases revenue forecasts by 21%, 13% and 13% for CY25, CY26 and CY27, respectively

** Hikes price target to A$1.30 from A$1.10, and retains "buy" rating

** Stock up 47.7%, YTD

   ($1 = 1.5758 Australian dollars)

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))