TD Cowen Starts Merlin Labs (MRLN) at Buy, 'Flight Autonomy Provider W/ Optionality'

TD Cowen analyst Gautam Khanna initiates coverage on Merlin Labs (NASDAQ: MRLN) with a Buy rating and a price target of $11.00.

The analyst comments "MRLN is a flight autonomy provider with contracts to develop autonomy software for the military's C-130J/KC-135 programs. We initiate at Buy, with an $11 PT. EBITDA/FCF will likely be negative for years, sales/EBITDA volatility is high, pricing/adoption of MRLN's software is not assured, and SPAC overhangs (warrants; lock-ups) exist. Thus, we expect high stock volatility."

For an analyst ratings summary and ratings history on Merlin Labs click here. For more ratings news on Merlin Labs click here.

Shares of Merlin Labs closed at $7.61 yesterday.

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