BTIG downgraded Airo Group to Neutral from Buy with no price target. While the firm remains constructive on drones as an end market, it contends that Airo's near-term setup has become "less compelling." The firm sees a more balanced near-term risk/reward and believes investors can access the drone theme through more diversified alternatives with about 87% of Airo's revenue tied to drones and largely a single platform, the analyst tells investors.
