RBC Capital analyst Ken Herbert raised the firm’s price target on Mercury Systems (MRCY) to $95 from $90 and keeps an Outperform rating on the shares. The company’s Q3 outperformance was driven by $20M of accelerated revenues from Q2, which came in at about 50% margins, the analyst tells investors in a research note. Mercury Systems sees minimal risks to its business from the shutdown, and the 1.1x book-to-bill was a positive, the firm added.
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