KeyBanc Upgrades Kratos Defense & Security (KTOS) to Buy; Valuation Attractive; Cash Flow at Inflection Point

KeyBanc upgraded Kratos Defense & Security (NASDAQ: KTOS) from Hold to Buy with a price target of $11.00.

KeyBanc analyst says, "Our decision to upgrade the stock is predicated on three key factors: 1) management's 2012 outlook was ahead of Street expectations and implies free cash flow has hit an inflection point; 2) sound execution coupled with business model transformation has improved visibility relative to peers; and 3) KTOS shares appear to be trading at a larger than warranted discount relative to its peers."

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 $5.93 yesterday.

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