Telos price target raised to $9 from $8.50 at B. Riley

B. Riley raised the firm’s price target on Telos (TLS) to $9 from $8.50 and keeps a Buy rating on the shares. The firm updated its model following the Q3 report, which featured revenue and adjusted EBITDA exceeding consensus by 12% and 115%, respectively, the analyst tells investors in a research note. Momentum is expected to sustain through year-end as management raised the midpoints of the second half revenue and adjusted EBITDA guidance by 6% and 54%, respectively, the firm says.