The Globe and Mail reports in its Friday, Nov. 28, edition that Stifel analyst Greg MacDonald rates Volatus Aerospace "buy" in new coverage. The Globe's David Leeder writes that Mr. MacDonald targets the shares at 85 cents. Mr. MacDonald says in a note: "Our macro thesis defines defence-tech as industry disruption enabled by Silicon Valley best-practices, driving operational leverage at scale and pace. In our view, Volatus Aerospace meets this definition. Our investment thesis for Volatus is informed by three points: (1) progressive Canadian drone regulation allowed Volatus to gain early/scarce expertise in beyond visual line of sight piloting; (2) Volatus's operations center, FLYTE software and AI-driven client solutions enable a highly scalable 'drone-in-a-box' operating model -- a global competitive advantage; and (3) Volatus's strengths are strategically positioned within a 14-per-cent CAGR TAM [compound annual growth rate total addressable market]. Volatus's $647-million backlog demonstrates the commercial proof point of its product offering and derisks the stock as investors are inclined to fund growth in hand. ... We believe Volatus should be a core holding for the NATO+ defence spending theme."