FLYHT Research Report Updated by KRC Insights We would like to share the most recent equity research report on FLYHT published by KRC Insights' Bruce Krugel (attached here).
https://flyht.com/wp-content/uploads/2022/08/FLY-22-Q2b.pdf
In his report published on August 18 after Q2 2022 earnings results, Krugel notes that FLYHT just delivered its second strong quarter of 2022 and expects continued strength in 2H 2022 and beyond, driven by the 1) benefits of the aviation recovery, 2) CrossConsense contribution, 3) OEM licensing deal, and 4) upcoming introduction of the AFIRS Edge device.
A few additional items to highlight from the KRC report:
- Identifies and discusses two key recent developments in the AFIRS Edge device and the recent additions to the commercial team from Teledyne (page 4-5)
- Discusses the potential order by the UK Met to purchase 30 WVSS devices (page 5)
- Provides an analysis of Bluesky opportunity which drives his market penetration forecasts (page 6-7)
Krugel has maintained his buy rating and increased his TP from $2.50 to $2.70. The higher target price is based on a higher target SaaS multiple of 6.5x in the sum-of-the-parts valuation analysis due to higher conviction in FLYHT's ability to execute.
As always, please reach out to investors@flyht.com at any time.
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