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Investing.com - Frequency Electronics (NASDAQ:FEIM) shares rose 8% on Monday following analyst commentary about potential increased Department of Defense spending on missile production. The stock has demonstrated remarkable momentum, surging 153% over the past year and 94% in the last six months, according to InvestingPro data.
Craig-Hallum highlighted the company’s positioning to benefit from news that the U.S. is looking to increase missile production by two to four times over the short to intermediate term.
The research firm noted that concerns about superior Chinese production capabilities and depleted U.S. stockpiles are driving this potential spending increase, based on recent developments and simulations.
Craig-Hallum pointed to Frequency Electronics’ role in several key missile defense systems, including the Patriot, AAMRAM, and THAAD interceptor missiles, as reasons for the stock’s positive reaction.
The firm maintains a Buy rating on Frequency Electronics shares, describing the company as "standing at the intersection of many high-profile defense trends."
In other recent news, Frequency Electronics reported its first quarter fiscal 2026 earnings, showing a decline in both revenue and net income compared to the previous year. The company announced consolidated revenue of $13.8 million, down from $15.1 million, and a net income of $634,000, or $0.07 per share, a significant drop from $2.4 million, or $0.25 per share, the previous year. Freedom Capital Markets responded to these results by lowering its price target for Frequency Electronics to $33.00, citing underperformance in the U.S. commercial and government satellite programs segment. Despite this, the firm maintained a Buy rating on the stock. Additionally, Craig-Hallum initiated coverage on Frequency Electronics with a Buy rating and set a price target of $43.00, emphasizing the company’s expertise in designing atomic clocks and timing solutions for satellite applications. These developments highlight the mixed analyst perspectives following the company’s recent earnings report.
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