Piper Sandler analyst Clarke Jeffries lowered the firm’s price target on Kratos Defense (KTOS) to $75 from $99 and keeps a Neutral rating on the shares. The firm notes Kratos reported solid Q1 results with 16% organic growth and 10% adjusted EBITDA margins. While reported revenue growth came in 9% above the midpoint, guidance did not reflect the recent close of the Orbit acquisition, Piper adds.
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