Bernstein starts Exail Technologies at 'outperform' on autonomous defence boom

** Bernstein initiates coverage of French underwater drone maker Exail Technologies EXA with an "outperform" rating and a PT of EUR 150

** The company holds a market-leading position in high-precision inertial navigation systems that provide positioning in environments like underwater, where GPS signals are unavailable, Bernstein says

** This is a key advantage as demand for autonomous systems in defence and maritime applications grows, it adds

** "Exail offers a unique exposure to the booming autonomous defence and maritime technologies," the broker adds, noting the company's "strong vertical integration"

** Out of four analysts that cover Exail Technologies, three rate the stock "strong buy" or "buy,"​ and one analyst rates it "hold" - LSEG data