Canaccord Genuity analyst Kenneth Herbert maintained a Buy rating on Rada Electronics (RADA) yesterday and set a price target of $12.00. The company’s shares closed last Monday at $9.38, close to its 52-week high of $10.70.
According to TipRanks.com, Herbert is a top 100 analyst with an average return of 25.3% and a 73.8% success rate. Herbert covers the Technology sector, focusing on stocks such as Aerojet Rocketdyne Holdings, Spirit AeroSystems, and Maxar Technologies.
Currently, the analyst consensus on Rada Electronics is a Moderate Buy with an average price target of $13.00, implying a 33.5% upside from current levels. In a report issued on December 22, Alliance Global Partners also maintained a Buy rating on the stock with a $14.00 price target.
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Based on Rada Electronics’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $20.36 million and net profit of $2.13 million. In comparison, last year the company earned revenue of $11.26 million and had a GAAP net loss of $686K.
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Rada Electronic Industries Ltd. Operates as a defense technology company. It develops, manufactures and sells defense electronics, including avionics solutions (including avionics for unmanned aerial vehicles and airborne inertial navigation systems), airborne data/video recording and management systems and tactical land-based radars for defense forces and for border protection systems. The company was founded on December 8, 1970 and is headquartered in Netanya, Israel.