BUZZ-Stifel hikes defense firm Kratos' PT on strong drone orders; shares rise
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Stifel has raised the price target for Kratos Defense & Security Solutionsfrom $112 to $134, maintaining a "buy" rating. This new target represents a 13.7% upside from the stock's last close. The increase is attributed to strong orders for the Valkyrie drone and advancements in hypersonic programs. KTOS shares rose nearly 2% to about $120 in premarket trading. The brokerage noted Northrop Grumman's selection of KTOS's Valkyrie for the USMC program as a sign of confidence in the company's cost-effective and reliable solutions. 15 of 18 brokerages rate KTOS as "buy" or higher, with a median price target of $100.
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