0045 GMT - Droneshield's bull at Shaw & Partners thinks that the security tech provider's long-term growth prospects are intact despite softer-than-expected December-quarter revenue. Analyst Abraham Akra tells clients in a note that quarterly revenue fell well short of his forecast, prompting him to trim his 2025 and 2026 revenue expectations by 20%. This reflects delayed tender activity and a decline in global conflicts, he explains. Even so, he keeps a buy rating on Droneshield, which develops drone-detection hardware and software. Shaw has a A$0.90 target price on the stock, which is down 1.5% at A$0.65. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
February 05, 2025 19:45 ET (00:45 GMT)
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