Truist analyst Michael Ciarmoli raised the firm’s price target on Kratos Defense (KTOS) to $78 from $52 and keeps a Buy rating on the shares. The firm cites its “Blue Sky analysis” of the company’s unmanned, turbine engine and hypersonic opportunities through the rest of the decade for the target bump. It believes Kratos’ next-generation portfolio has the potential to grow revenue at 20%-30% annually through 2030, driving up to 900 basis points of margin expansion. Truist believes this justifies a premium valuation for the shares.
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