Telos price target raised to $5.50 from $4.50 at B. Riley

B. Riley raised the firm’s price target on Telos to $5.50 from $4.50 and keeps a Buy rating on the shares. Telos reported strong Q4 results last week, including “strong” new business capture, setting the stage for sequential growth in the second half of 2024 and robust growth in fiscal 2025, the analyst tells investors in a research note. The firm’s updated model leaves room for outperformance considering its relatively conservative assumptions for new program contribution, TSA PreCheck expansion, and sustained new business capture.