Firefly Aerospace surges after Q3 beat, Deutsche Bank upgrade

Firefly Aerospace FLY.O shares jump 21.7% to $22.29 premarket after qrtrly results beat analysts' expectations, and Deutsche Bank turns bullish

Cedar Park, Texas-based space and defense tech firm late Weds posted Q3 rev of $30.8 mln, up from $22.7 mln a year ago, and adj loss/sh of 33 cents

Analysts had modeled $27.7 mln in rev and 41 cents/sh loss, per LSEG data

FLY said expects 2025 rev of $150-$158 mln, above consensus view of ~$136 mln

Reacting to the report, Deutsche Bank upgrades rating to 'buy' from 'hold', while cutting PT by $10 to $30

FLY last week closed its $855 mln acquisition of national security tech co SciTec

FLY shares debuted at $70 on Aug 7 after IPO priced at $45. Stock on Weds fell >4% to post-listing low of $18.31

4 of 7 brokerages rate FLY "strong buy" or "buy", 3 rate "hold"; median PT is $52 - LSEG