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Investing.com - Berenberg has initiated coverage on Exail Technologies SA (EPA:EXA) with a Buy rating and a price target of EUR125.00, citing the company’s leadership in autonomous maritime robotics and navigation systems.
The French family-owned company has positioned itself as a market leader in maritime robotics and underwater drone systems following its acquisition of iXBlue in 2022, according to Berenberg. This vertical integration allows Exail to serve both civil and military markets.
Berenberg highlights that Exail stands to benefit significantly from increasing global defense budgets, particularly those allocated to autonomous equipment. The research firm notes that EU27 defense spending is projected to double to approximately EUR200 billion by 2030.
The company estimates its total addressable market at approximately EUR8 billion annually, with about EUR3.5 billion coming from the defense sector, Berenberg reports. Growth areas include mine-hunting, maritime surveillance, anti-submarine warfare, and hydrography.
Beyond maritime applications, Berenberg observes that Exail’s inertial navigation systems are gaining market share in land systems and space applications, further expanding its potential revenue streams.
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