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Investing.com - Freedom Broker initiated coverage on Frequency Electronics, Inc. (NASDAQ:FEIM) with a Buy rating and a price target of $27.00. The company, currently trading at $22.72, has demonstrated remarkable performance with a 176.8% return over the past year and maintains strong financial health according to InvestingPro analysis.
The research firm cited the company’s design and manufacturing of high-precision timing, navigation, and synchronization products for space and terrestrial markets, with a primary focus on the United States.
Freedom Broker highlighted that FEIM’s core offerings have been strengthened by a recently awarded subcontract from Leidos for advanced magnetometers.
The company also supplies products to major aerospace and defense firms including Lockheed Martin (NYSE:LMT), BAE Systems (LON:BAES), and Northrop Grumman (NYSE:NOC).
Freedom Broker sees "significant long-term upside" for Frequency Electronics in the proliferated satellite and terrestrial secure command, control, and communications systems markets.
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