Benchmark analyst Josh Sullivan notes that the New York Times released a deep dive drone teaser article focusing on Kratos’ Valkyrie on Sunday, after which the Pentagon revealed a $1B Replicator program to acquire thousands of low-cost drones and AI to specifically counter China over next 18-24 months on Monday and the DoD technology chief scheduled a Fall decision on rapid experimentation projects on Tuesday. The firm, which wonders if it all adds up to Valkyrie being on the “cusp” of a “big order,” has a Buy rating and $20 price target on Kratos Defense shares.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on KTOS:
- Kratos Defense, Hypersonix announce exclusive teaming agreement
- Kratos and Hypersonix Announce Exclusive Teaming Agreement to Bring DART AE Hypersonic System to the U.S. Market With Kratos’ Zeus Family of Solid Rocket Motor Systems
- Kratos Defense price target raised to $18 from $15 at JPMorgan
- Kratos’ Family of High-Speed Tactical and Target Unmanned Systems will be on Display at MCAS Miramar Air Show
- Kratos Defense sees FY23 revenue $980M – $1B consensus $1.09B