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Mercury Systems price target raised to $44 from $35 at RBC Capital

RBC Capital raised the firm’s price target on Mercury Systems (MRCY) to $44 from $35 and keeps a Sector Perform rating on the shares. The company reported a strong Q2 with highlights of $82M in free cash flow and bookings of $242M, and while the quarter did benefit from about $30M in revenues that were pulled from Q3, Mercury’s free cash flow performance was impressive, the analyst tells investors in a research note. The company has provided a cautious outlook for the second half of the year, but it continues to demonstrate improved execution, the firm added.

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