Stifel Is Bullish On Spire Global, Sees Sharp Upside

March 3, 2022 8:52 AM | 1 min read | Make a Comment

Stifel analyst Erik Rasmussen initiated coverage of Spire Global Inc SPIR with a Buy rating and a price target of $6, implying an upside of 181.7%.
Spire is "one of the best-positioned NewSpace companies," argues Rasmussen, who believes they are "on the cusp of a very large and growing opportunity for space-based analytics."
Rasmussen says the market is still in its infancy, but the spread of adoption is rapidly accelerating, and Spire is well-positioned to scale its business and capture additional market share with its expanding solution set and a number of secular tailwinds in key verticals.
Price Action: SPIR shares are trading higher by 4.67% at $2.24 during the premarket session on Thursday.