What Happened
Desjardins Initiates Coverage With Buy Rating Amid Defence Drone Deal
Desjardins Securities has initiated coverage of Volatus Aerospace with a Buy rating and a price target of C$0.90, citing the company’s recent Canadian government contract for defence drone systems. The deal, worth up to C$25 million, includes an initial procurement of 100 systems with options for 4,900 more. Volatus also qualified for the Defence Drone Initiative marketplace in Canada, widening its room to maneuver in future procurement rounds. The company reported successful first flight tests of its V-Cortex autonomy operating system and flight controller, which could provide a technological advantage. This news was first reported by an unknown source.