Goldman Sachs Upgrades Kratos Defense & Security (KTOS) to Buy

Goldman Sachs analyst Anthony Valentini upgraded Kratos Defense & Security (NASDAQ: KTOS) from Neutral to Buy with a price target of $52.00.

The analyst comments: "We assume coverage of Kratos from Noah Poponak and upgrade the stock to Buy from Neutral with a $52 12-month price target. Kratos has strategically invested in areas of the defense supply chain that are critical to the future of warfare and are at a key inflection point. Funding is finally coming for drone programs, turbo jet and turbo fan engines are in high demand for UAS and missile systems, and both C5ISR and space are continuing to grow at a fast clip. Kratos is well positioned in these areas, and we expect the company's products to be in high demand as the defense industrial base is rebuilt. We see significant top-line growth over the medium-term, leading to expanding margins and improved cash generation."

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 $45.84 yesterday.

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