Maxim Group Maintained a Buy Rating on Unusual Machines (UMAC), Kept the PT Unchanged

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) is one of the Most Promising New Technology Stocks According to Wall Street Analysts. On June 18, Matthew Galinko, an analyst from Maxim Group, maintained a Buy rating on Unusual Machines, Inc. (NYSEAMERICAN:UMAC) with a price target of $16.

Galinko noted that the company recently acquired Rotor Lab, an Australian drone motor manufacturer, which enables it to focus on domestic production of drone components. The analyst highlighted that this is important because the company aims to replace foreign competitors now restricted in the US market.

On the other hand, Unusual Machines, Inc. (NYSEAMERICAN:UMAC) decided to cancel the agreement to acquire Aloft. Galinko believes this decision shows the company’s commitment to becoming a leading domestic supplier, a strategy aligned with favorable government policies that support US-based manufacturing.

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) designs, manufactures, and sells small drones and essential drone components.

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Disclosure: None. This article is originally published at Insider Monkey.