Core Viewpoint - Lake Street Capital Markets raised its price target on Velo3D to $18 from $6 while maintaining a Buy rating, highlighting long-term structural tailwinds and improved balance sheet visibility [1] Group 1: Market Dynamics - The firm believes that despite the stock's recent rebound, investors have not missed the opportunity, citing sustained tailwinds such as manufacturing reshoring, America-First policy initiatives, rising defense spending, and a focus on securing domestic supply chains, which create a long growth runway for the company [2] - Velo3D has exposure to reshoring, aerospace and defense spending, and growth metrics that exceed peer averages, indicating meaningful upside potential from current valuation levels [4] Group 2: Management and Strategy - Many institutional investors are familiar with Velo3D by name, but fewer have fully appreciated the changes under the new management team, the revised strategy, or the accelerating momentum in aerospace, defense, and space end markets [3] - Recent financing activity has alleviated prior balance sheet concerns, supporting valuation expansion despite the firm adopting more conservative estimates [3]