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Kratos Defense transaction-related weakness an opportunity, says Stifel

After Kratos Defense (KTOS) announced a primary equity share offering of $500M with an option granted to the underwriters for an additional $75M, Stifel noted that the specific projects that will be receiving additional funding are unknown. However, the firm thinks Kratos “enjoys a rich opportunity set to make incremental investments behind growth” would recommend using any transaction-related weakness to establish or add to positions. Stifel has a Buy rating and $52 price target on Kratos shares, which are down $2.99, or 7%, to $39.34 in pre-market trading.

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