Kratos Defense & Security (KTOS) PT Raised to $70 at Citizens JMP

Citizens JMP analyst Trevor Walsh raised the price target on Kratos Defense & Security (NASDAQ: KTOS) to $70.00 (from $40.00) while maintaining a Market Outperform rating.

The analyst commented, “KTOS currently trades at a CY26E EV/EBITDA multiple of 59.8x, while our revised $70 price target implies a multiple of 72.0x, an ~160% premium to our unmanned aerial systems (UAS) and aerospace/defense peer group mean multiple of 27.7x, which we believe is warranted given Kratos' growth drivers across established and emerging defense (where KTOS has a first-mover advantage) markets, as well as geopolitical tailwinds supporting a production capability ramp across the breadth of Kratos Government Services and Unmanned Systems offerings.”

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