Kratos Defense price target raised to $80 from $40 at Raymond James

Raymond James raised the firm’s price target on Kratos Defense (KTOS) to $80 from $40 and keeps a Strong Buy rating on the shares. The company easily topped Q2 estimates and keeping winning in major new markets that cane drive $3B-plus in revenue a few years out, the analyst tells investors in a research note. The firm says Kratos’ record pipeline of $13B has now substantially covered its prior base case of 13$-15% growth in 2026. The company is exposed to “critical modernization areas that will transcend future administrations,” including air defense, hypersonics, drones, engines and space, contends Raymond James.