Truist raised the firm’s price target on Kratos Defense (KTOS) to $52 from $38 and keeps a Buy rating on the shares. The company’s 15M share offering should add over $483M in proceeds and support several new capex projects which combined are in excess of $200M, the analyst tells investors in a research note. The new capex projects are being stood-up to directly support new opportunities and recent program wins that have the potential to add over $150M of revenue in the coming years, Truist added.
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