What Happened
Analyst Sees Massive Upside Potential in Merchant Supplier
Guggenheim analyst Michael Ciarmoli has initiated coverage of Applied Aerospace & Defense, Inc. with a Buy rating, citing the company’s potential for massive upside. Ciarmoli believes the company is well-positioned to benefit from growth trends in the aerospace, defense, and space industries. The analyst expects the current trend of increased spending on autonomous systems, space, and replenishing depleted stockpiles to sustain, which could drive the stock’s price up to $30, a 150% increase from its current level. This news was first reported by Yahoo Finance.