DroneShield rallies after Bell Potter lifts price target
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The news: DroneShield led early gains on the ASX 200 after Bell Potter lifted its 12-month price target on the counter-drone company from $4.40 to $5 per share.
Shares rallied 6.71% to $4.61 per share at 11:20am AEDT.
The context: Bell Potter retained a buy rating on DroneShied, after citing 2026 as the "year of the drone" and identifying key catalysts from potential contract awards in the US public safety market.
The broker highlighted funding of USD250 million ($369 million) allocated for counter-unmanned aircraft systems (C-UAS) protection related to FIFA World Cup and America 250 events.
Bell Potter said DroneShield's competitive advantage stems from its years of battlefield experience and its large research and development team.
What they said: "We expect 2026 will be an inflection point for the global C-UAS industry with countries poised to unleash a wave of spending on RF detect and defeat solutions," Bell Potter analyst Baxter Kirk said.
The source: Bell Potter Research
