While the S&P/ASX 200 Index is down 0.54% to 8,655 points, EOS shares are heading in the opposite direction.
The system is now listed on the US Joint Interagency Task Force 401 Counter-UAS marketplace.
While the listing doesn't represent a new contract, it puts EOS in front of more potential customers and makes the buying process easier.
According to TipRanks, Canaccord Genuity has a buy rating and $15 price target, while Bell Potter and Ord Minnett have targets of $12.60 and $12.50, respectively.
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While the S&P/ASX 200 Index is down 0.54% to 8,655 points, EOS shares are heading in the opposite direction.
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The article, shortened and in plain language
It's been a Friday for Australian investors, but Electro Optic Systems Holdings Ltd shareholders have plenty to smile about.
While the S&P/ASX 200 Index is down 0.54% to 8,655 points, EOS shares are heading in the opposite direction.
The defence tech company's shares have jumped 7.21% to $11.45, putting it within striking distance of its 52-week high of $12.58.
According to the latest company update, EOS has secured a new procurement pathway for its R400 remote weapon system.
The system is now listed on the US Joint Interagency Task Force 401 Counter-UAS marketplace.
Access is also expanding to other allied nations, with 23 countries now cleared to participate.
While the listing doesn't represent a new contract, it puts EOS in front of more potential customers and makes the buying process easier.
The company's latest half-year results showed revenue surged 283% to $168.8 million, compared with $44.1 million a year earlier.
According to TipRanks, Canaccord Genuity has a buy rating and $15 price target, while Bell Potter and Ord Minnett have targets of $12.60 and $12.50, respectively.
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How outlets headlined it
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The Motley Fool AustraliaEOS shares jump 7% as ASX 200 falls. Could $15 be next?plain
The Motley Fool Australia2 ASX shares UBS says could increase 13% to 37%plain
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