Kratos Defense price target raised to $105 from $70 at Citizens JMP

Citizens JMP analyst Trevor Walsh raised the firm’s price target on Kratos Defense (KTOS) to $105 from $70 and keeps an Outperform rating on the shares after attending the Miramar Air Show. The firm continues to like Kratos as an opportunity for long-term capital appreciation, as it sees a large total addressable market spanning unmanned systems, space & satellites, turbine technologies, microwave electronics, and more, the analyst tells investors in a research note. Geopolitical tailwinds also support a production capability ramp across the breadth of Kratos Government Services and Unmanned Systems offerings, the firm says.