Telos price target raised to $4 from $2.25 at DA Davidson

DA Davidson analyst Rudy Kessinger raised the firm’s price target on Telos (TLS) to $4 from $2.25 and keeps a Neutral rating on the shares. The company’s Q2 results were nicely ahead, particularly on EBITDA, as incremental EBITDA margins were at about 46% Y/Y, the analyst tells investors in a research note. Growth also remains significantly concentrated to two programs that will represent 50%-55% of Revenue this year, the firm added.