Berenberg starts GomSpace with 'buy', flags turnaround, space sovereignty play

GomSpace AB

Wed 11:31

** Berenberg initiates coverage of satellite manufacturer GomSpace GOMX.ST with a "buy" rating, citing its successful turnaround and strong position in a growing industry
** The brokerage says the firm is a "trusted partner in space" with a 20-year history that distinguishes it within the young nano and small satellite production sector
** The broker notes the firm achieved profitability after a tough restructuring that cut staff and cancelled low-margin orders, restoring its ability to generate free cash flow
** It adds the business benefits from nations seeking space sovereignty by building independent satellite constellations instead of relying on external providers
** The brokerage sets its PT at SEK 17 and highlights potential game-changing mega orders for defence and civil applications in countries like Indonesia and Ukraine

 (Reporting by Marta Frąckowiak)
 ((marta.frackowiak@thomsonreuters.com))