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Investing.com - Berenberg has initiated coverage on Filtronic PLC (LON:FTC) with a Buy rating and a price target of GBP1.96, representing 52% potential upside.
The research firm cites Filtronic’s position as a leading supplier to the space industry, including SpaceX, as providing a runway for continued high growth.
Filtronic designs and manufactures components and subsystems for radio frequency (RF) communication networks, offering investors exposure to both the booming space industry and an accelerating European defence market.
Berenberg highlights the company’s growing opportunity in the defence sector as a supplementary growth driver to its established space industry business.
The GBP1.96 price target reflects Berenberg’s confidence that Filtronic has "much more growth to go" beyond its recent performance.
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