- Stifel analyst Erik Rasmussen initiated coverage of Spire Global Inc (NYSE:SPIR) with a Buy rating and a price target of $6, implying an upside of 181.7%.
- Spire is "one of the best-positioned NewSpace companies," argues Rasmussen, who believes they are "on the cusp of a very large and growing opportunity for space-based analytics."
- Rasmussen says the market is still in its infancy, but the spread of adoption is rapidly accelerating, and Spire is well-positioned to scale its business and capture additional market share with its expanding solution set and a number of secular tailwinds in key verticals.
- Price Action: SPIR shares are trading higher by 4.67% at $2.24 during the premarket session on Thursday.
