Jefferies believes BlackSky’s sales could double by 2028 due to accelerating international demand. The investment firm initiated the satellite imaging company with a buy rating and a $23 price target, suggesting an upside of 19%. BlackSky stock is up 78% this year. BKSY YTD Mountain BSKY YTD Chart Analyst Greg Conrad noted that the company’s growth runway is increasing based on increased international hiring. He believes this international growth could double sales from the current $108 million to $211 million by 2028. “After taking a little breather in 2025 from the US Government/EOCL downturn (6% sales growth), BlackSky appears well-positioned to grow sales by up to 25% annually based on third-generation satellite leverage and a strong international customer base,” Conrad wrote. “Despite budgetary challenges, we believe there is discretion on the U.S. side, highlighted by drivers such as the increasing needs of NRO/NGA and NRO/NGA-supported institutions.” The analyst also sees BlackSky’s margin returns expanding going forward. Conrad said the 60% profit increase, along with the sales recovery, supports the rating review and a path to EBITDA margins above 40%. Further acceleration includes the full deployment of BlackSky’s Gen-3 and AROS video imaging satellites.
