RBC Capital last night upgraded Mercury Systems (MRCY) to Outperform from Sector Perform with a price target of $90, up from $55. The company is well positioned as a merchant supplier of defense mission-critical processing systems, which should benefit from the increased focus on greater defense capabilities, the analyst tells investors in a research note. The firm says that while Mercury’s growth outlook is below peers, its 2026 outlook is conservative, and increased confidence its margin recovery will support a continued positive inflection in sentiment.
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