Kratos Defense price target raised to $128 from $105 at B. Riley

B. Riley raised the firm’s price target on Kratos Defense (KTOS) to $128 from $105 and keeps a Buy rating on the shares. Shares could see upside from several catalysts, including the Trump administration’s signal to increase the initial FY27 U.S. defense budget by 50% to $1.5T, the analyst tells investors in a research note.