Australia's Electro Optic Systems extend gains following contract win; Canaccord upgrades

Shares of Electro Optic Systems EOS.AX up as much as 13.5% to A$7.335, their highest level since Oct 14
Shares of defense tech co extend gains after entering into $80 million 100kW High Energy
Laser Weapon (HELW) contract with a customer in the Republic of Korea
Canaccord Genuity upgrades the stock to "Buy" from "Speculative Buy", raises revenue forecasts for FY26 and FY27 by 5% and 4%

Brokerage sees deals with other countries to materialise over the coming months

Sees potential for manufacturing of units in South Korea, highlights strategic importance of units in critical infrastructure protection given geopolitical tensions

Three of four analysts rated "Buy" or higher on shares; sole E&P analyst recommends "Hold", as per LSEG-compiled data

YTD, shares up 449.6%