Karman initiated with a Buy at Needham

Needham analyst Austin Bohlig initiated coverage of Karman (KRMN) with a Buy rating and $125 price target The firm says the company is “uniquely positioned” as a key supplier of mission-critical subsystems. Karman faces a $100B “gold rush opportunity” across next-generation missile, space, maritime and unmanned defense programs, the analyst tells investors in a research note. Needham believes Karman is positioned to outperform its 25% organic revenue growth target as the U.S. defense spending “supercycle” accelerates.