Telos Corp. (TLS) PT Raised to $4.50 at BMO Capital

BMO Capital analyst Keith Bachman raised the price target on Telos Corp. (NASDAQ: TLS) to $4.50 (from $3.00) while maintaining a Market Perform rating.

The analyst commented, "TLS reported a reasonable quarter with upside to revenue and the 4Q guide. However, we note that the company is undergoing a restructuring and is exiting select Security Solutions business, including Ghost. On the positive, we think TLS is growing its TSA business. With an eye towards CY25, we ultimately believe TLS will need to prove it can execute on its large contract awards to grow revenues overtime. Net, we remain Market Perform and raise our target price to $4.50."

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