BlackSky Technology jumps as Craig Hallum upgrades

seekingalpha10-05

BlackSky Technology (NYSE:BKSY) shares jumped 15% on Friday as Craig Hallum upgraded the space-based intelligence company after the recent $46M capital raise "saved the balance sheet." "BlackSky has ...

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BlackSky has made a \"major push\" with its satellite-based imagery and analytics and is one of only three America optical imagery providers, Van Rhee noted. As such, step changes in revenue are \"very possible\" and the signed contracts for its upcoming third-generation satellites include a $50M award from Indonesia, another $150M from an \"Asian ally\" and the possibility for upside to quadruple in its $35M ACV contract based on the third-generation capabilities, Van Rhee added. The first of its third-generation satellite is expected to launch in the fourth-quarter, which Van Rhee said \"should be a catalyst to [2025 and 2026].\" Analysts are largely bullish on BlackSky (BKSY). It has a HOLD rating from Seeking Alpha authors, while Wall Street analysts rate it a STRONG BUY. 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