Raymond James cut target for Kraken Robotics stock to CAD 8.00

Published on 10/08/2026 at 13:05 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q2 revenue reached CAD 27.30 million and adjusted EBITDA CAD 5.00 million. Kraken Robotics stock traded at EUR 3.10 on October 8, 2026 versus EUR 3.12.

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Raymond James had cut its Kraken Robotics target from CAD 11.00 to CAD 8.00 on August 28, 2026, while keeping an Outperform rating, as Börse Express reported on September 17. Kraken Robotics stock was trading at EUR 3.10 at Lang & Schwarz on October 8, 2026 at 1:01 p.m. CEST, with a minus 0.64 percent change versus the prior close of EUR 3.12.

Target cut meets operating growth

The analyst move contrasts with operating figures from the second quarter of 2026. Maritime News reported that revenue reached CAD 27.30 million for the quarter ended June 30, 2026, while adjusted EBITDA was CAD 5.00 million.

The same report said Kraken maintained 2026 guidance for revenue of CAD 290.00 million to CAD 320.00 million and adjusted EBITDA of CAD 65.00 million to CAD 75.00 million. The quarter also included more than CAD 27.00 million in additional product orders, taking combined 2026 orders for Kraken and Covelya to CAD 355.00 million.

Integration is the next test

The Q2 figures exclude any contribution from Covelya, which Kraken acquired on July 2, 2026. That timing makes the next combined reporting period more important because the order book must translate into reported revenue after the acquisition.

As Yahoo Finance reported on October 6, the central issue is the timing of backlog conversion and Covelya integration. Its article cited the CAD 355.00 million order book alongside second-quarter revenue of CAD 27.30 million and adjusted EBITDA of CAD 5.00 million, putting execution between orders and revenue at the center of the investment case.

Stock stays below its yearly range

On the TSX Venture Exchange, the last available quote was CAD 4.99 on October 7, 2026, while the 52-week range was CAD 4.05 to CAD 10.72. The market capitalization was CAD 1.5 billion on that date, giving the Canadian listing a separate reference from the euro quote.

The next scheduled reporting date is November 24, 2026, when Kraken expects to publish its third-quarter 2026 results. The report will offer the first quarterly view of the combined business after Covelya.

The further course of trading is shown by the continuously updated real-time quote of Kraken Robotics stock.