Lyntris rises after bullish calls by brokerages
LYNX•LYNX•LYNX•LYNX•Shares of defense contractor Lyntris LYNX.N advance 3.9% to $13.23.
At least two brokerages initiate the stock with largely bullish calls at the end of its post-IPO research quiet period.
LYNX secured a valuation of $1.78 billion after its shares opened at $15.50, below the IPO price of $17.50.
BofA Global Research (Buy, PT: 21) sees LYNX as favorably exposed to defense priorities across its three segments.
It adds that Space ISR and resilient communications will lead growth, buoyed by space-defense spending, while Golden Dome programs and demand for maritime radar and unmanned vessels support other segments.
Raymond James (Outperform, PT: $18) says backlog is funding the growth algorithm.
The brokerage expects backlog to exceed $1.1 billion by end-2026, providing more than 90% coverage of its 2027 revenue estimate and reducing reliance on new contract wins.
As of last close, the stock was down 27.2% since its IPO on August 19.
