Mercury Systems price target raised to $50 from $48 at RBC Capital

RBC Capital raised the firm’s price target on Mercury Systems (MRCY) to $50 from $48 and keeps a Sector Perform rating on the shares. The company’s Q3 EBITDA topped estimates and its free cash flow in the quarter of $24.1M was also robust, with consensus expecting a use of cash, the analyst tells investors in a research note. The company remains on track to hit its FY25 framework, and it continues to demonstrate improvement in its backlog quality and working capital release, RBC added.