Karman upgraded to Overweight from Neutral at Piper Sandler

Piper Sandler upgraded Karman (KRMN) to Overweight from Neutral with a price target of $127, up from $110. The firm believes the company will benefit from a potential munitions “super cycle” where U.S. and allies seek to rebuild “magazine depth” for critical munitions by replenishing stockpiles, expanding production, and refreshing technology across missile programs. The war in Iran is “only the last data point in a series of funding-driven initiatives building” in Karman’ favor, the analyst tells investors in a research note.