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DroneShield Upgraded Amid Growth Prospects
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DroneShield Ltd (ASX: DRO) shares, previously downgraded, have been upgraded by Bell Potter to a buy rating with a 90 cents price target, reflecting a 46% potential upside. The company is recognized for its profitable growth potential in the realm of counter drone technology, driven by rising global defense spending and the integration of AI/ML technology. Bell Potter's optimistic assessment is fueled by DroneShield's robust sales pipeline valued at $388m for CY24 and $510m in total.
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How might the integration of AI/ML technology enhance DroneShield's competitive edge in the defense market?
In what ways could the increasing global defense expenditure impact the demand for counter drone technology?
What factors contributed to Bell Potter's change in rating from downgrade to buy for DroneShield shares?
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