Goldman Sachs upgraded Kratos Defense (KTOS) to Buy from Neutral with a $52 price target after assuming coverage of the name. Kratos has invested in areas of the defense supply chain that are critical to the future of warfare and “are at a key inflection point,” the analyst tells investors in a research note. The firm says funding is “finally coming” for drone programs while turbo jet and turbo fan engines are in high demand for unmanned aircraft systems and missile systems. Kratos is well positioned in these areas, and the company’s products will be in high demand as the defense industrial base is rebuilt, contends Goldman.
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