Red Cat Stock Could Fly On Pentagon's Biggest-Ever Drone Bet, Evercore Says

Evercore ISI initiated coverage of Red Cat Holdings (RCAT) with an Outperform rating and a $15 price target, arguing the Department of Defense’s shifting procurement priorities are a multi-year tailwind. The note suggests a supportive defense demand backdrop for RCAT, which may help underpin near-term sentiment even without new company financials disclosed.