Benchmark Downgrades Kratos Defense & Security (KTOS) to Hold

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Benchmark downgraded Kratos Defense & Security (NASDAQ: KTOS) from Buy to Hold with a price target of $5.00, following a slight Q2 miss on further organic revenue declines.

The firm comments, "We adjust our estimates to account for the CEI acquisition. While we continue to believe Kratos' products are well-aligned with national security priorities over the long term, we see limited near-term catalysts in the coming quarters with defense budget uncertainty from the election and the possibility of sequestration in January."

For an analyst ratings summary and ratings history on Kratos Defense & Security click here. For more ratings news on Kratos Defense & Security click here.

Shares of Kratos Defense & Security closed at $5.04 yesterday, with a 52 week range of $4.61-$10.19.

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