Canaccord raised the firm’s price target on Spire Global (SPIR) to $18 from $12 and keeps a Buy rating on the shares. The firm noted Spire Global announced that it has reached an agreement with Kpler, a global trade intelligence platform, to sell its AIS maritime data business for about $241M. Canaccord said the proceeds obtained from the sale enables Spire to eliminate all of its outstanding debt with Blue Torch Capital and pursue further growth opportunities for its weather/aircraft data analytics and RF geolocation solutions offerings.
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Read More on SPIR:
- Spire Global price target raised to $24 from $17 at Alliance Global Partners
- Spire Global rises 11.5%
- Spire Global upgraded to Buy from Hold at Craig-Hallum
- Spire Global price target raised to $16 from $9 at Baird
- Spire Global Sells Maritime Business to Kpler for $241M
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