As previously reported, Canaccord analyst Austin Moeller upgraded Kratos Defense to Buy from Hold with a price target of $14, up from $11.50, following the company’s Q4 report. Management, which maintained its 2023 expectation for 10% top-line growth, was "particularly enthusiastic" about the Government Solutions segment outlook, the analyst tells investors. Management does not assume a tactical drone revenue ramp in its guidance, but Canaccord argues that "it remains apparent that the company’s competitors are not anywhere close to having a comparable system to Valkyrie or Air Wolf."
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