Ai (BBAI 13. 68%) stock is rocketing higher again in Wednesday's trading. The company's price was up 14. 7% as of 1:30 p.
At the same point in the day's trading, the S&P 500 and the Nasdaq Composite were up 0. 8%, respectively.
The rally for defense artificial intelligence (AI) stocks is continuing in today's trading, and BigBear. Ai is seeing bullish momentum in conjunction with the trend.
The stock may also be benefiting from recently published analyst coverage. Image source: Getty Images. Ai continues to climb on defense AI rally BigBear.
Ai stock has seen big gains as investors have piled into AI stocks with significant exposure to the defense industry. Its price is now up 82% over the last month and 70% year to date.
After sell-offs in yesterday's trading, sector valuations are moving higher again. President Donald Trump's announcement that a trade deal with Vietnam has been made is helping to push stocks higher.
A report from ADP showing that the private sector unexpectedly lost 33,000 jobs last month is also helping to support expectations that the Federal Reserve will cut interest rates this week.
One investment firm thinks BigBear. Ai is heading significantly higher BigBear.
Ai may also be continuing to climb today thanks to recent analyst coverage and recent demonstrations for some of its AI software. In a note published yesterday, H.
Wainwright reiterated a buy rating on the stock and raised its one-year price target from $6 per to $9 per. The price target still suggests upside of roughly 21% even with today's rally.
Wainwright expects that the company's price will continue to climb as the moves toward management's targets for better performance in the second half of the year.
Expectations for the stock have risen dramatically as the defense AI trade has come into vogue, but the has a lot of ving to do after posting sales growth of just 5% last quarter.
Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.