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Northland Capital Markets has increased its target price on Ondas Holdings (NASDAQ: ONDS) to 18, up from the 16 it had previously applied, but maintained an Outperform rating. Its upgrade follows the earnings call of the company, highlighting the torrid demand of its autonomous defense and security platforms.

The new target suggests a huge potential upside, like 75 percent or more of its current trading levels since Ondas will place itself as a pioneer in multi-domain autonomous systems. The company underlined the advances of Ondas becoming a scaled player in the industry, backed with a substantial amount of cash of around 1.5 billion that would enable the firm to work on strategic opportunities and consolidation of the market.

Ondas has been aggressively achieving growth via acquisitions and alliances, opening up direct access to key U.S. defense contracts through its autonomous system business unit. As the world continues to put increased attention on counter-drone technologies and autonomous solutions, analysts believe that it will keep gaining momentum in 2026.

Next, in spite of the positive analyst activity, the ONDS shares fell on Thursday, which is a reflection of sentiment on the market broadly. Wall Street continues to be rosy about the long-term prospects of the stock in the high-growth defense drone industry.