UPDATE: JPMorgan Upgrades Kratos Defense & Security (KTOS) to Overweight

May 24, 2019 4:05 AM EDT
Get Alerts KTOS Hot Sheet
Price: $9.35 +0.32%

Rating Summary:
    10 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 5 | New: 0
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(Updated - May 24, 2019 8:06 AM EDT)

(updated to add analyst comment)

JPMorgan analyst Seth Seifman upgraded Kratos Defense & Security (NASDAQ: KTOS) from Neutral to Overweight with a price target of $24.00 (from $18.00).

The analyst comments "Kratos is making good progress on several fronts, the most important being its Valkyrie tactical drone, which has gained the attention of Air Force brass, and we are therefore upgrading the stock to OW. Obviously, we wish we had done this prior to earnings but our primary concern about KTOS has always been that its tactical drones would encounter the “Valley of Death” between prototype and program. This risk is down significantly and so we like the stock more, even if we’d like to see it pull back before getting more aggressive."

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 $20.83 yesterday.

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