BTIG analyst Andre Madrid lowered the firm’s price target on Kratos Defense (KTOS) to $100 from $115 and keeps a Buy rating on the shares after its Q1 earnings miss. The tactical drones business – which is mostly Valkyrie – accounted for about 5% of Q1 sales, though the firm expects a sequential step-down in Q2, the analyst tells investors in a research note.
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Read More on KTOS:
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- Kratos Defense reports Q1 EPS 7c, consensus 13c
- Kratos Defense sees Q2 revenue $400M-$410M, consensus $412.63M
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