2218 GMT [Dow Jones]--Droneshield's bears at Jefferies see the defense-technology provider's latest update as a material miss relative to near-term market expectations. With an unchanged target price on the stock, analysts William Richardson and John Campbell tell clients in a note that the midpoint of the Australian company's fiscal 2026 revenue guidance range fell about 20% short of consensus. They also think that management's target of a 65% gross margin across the full fiscal year looks ambitious given that the company managed only 60% in the first half. They see 63% as a more likely level. Jefferies cuts its target price on the stock by 22% to 1.60 Australian dollars. Shares are at A$1.805 ahead of the open.
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