Treasure Chest | 3:20 PM
FNArena's Treasure Chest reports on money making ideas from stockbrokers and other experts. Today’s ideas are Electro Optic Systems and Elsight.
By Mark Woodruff
Whose Idea Is It?
Cannacord Genuity
The subject:
Electro Optic Systems ((EOS)) and Elsight ((ELS)).
Following Australian defence manufacturer Electro Optic Systems’ successful $230m capital raising in May to take advantage of a step change in defence spend globally, Canaccord Genuity raised its earnings forecasts due to strong recent contract momentum.
Management at the advanced weapon systems and satellite tracking technology provider this week upgraded FY26 revenue guidance for its core business.
The broker also initiates coverage on Elsight, provider of connectivity solutions for drones, autonomous systems and other mission-critical applications.
Significant growth is emerging in Europe as NATO countries ramp up defence expenditure following the Russia-Ukraine war, boosting demand for products supplied by European drone manufacturers, Canaccord highlights.
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