Canaccord Genuity Starts Kratos Defense & Security (KTOS) at Buy
Canaccord Genuity analyst Austin Moeller initiates coverage on Kratos Defense & Security (NASDAQ: KTOS) with a Buy rating and a price target of $74.00.
The analyst comments "We are re-launching coverage on KTOS with a BUY rating and a $74 PT. While we view KTOS’ most attractive revenue growth/margin expansion opportunities in the near term as being an acceleration of OpenSpace SATCOM system sales and hypersonic missiles and solid rocket motors (Erinyes, Dark Fury, Zeus), we also believe there remains a strong potential for the Valkyrie stealth tactical jet drone to be selected as a CCA with the broader Navy and Air Force following its IOC under a USMC program of record. Our price target is based on a 76.1x EV/EBITDA multiple, applied to our FY26 estimate of $156M."
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Shares of Kratos Defense & Security closed at $63.88 yesterday.