Citizens analyst Trevor Walsh lowered the price target on Kratos Defense & Security (NASDAQ: KTOS) to $70.00 (from $105.00) while maintaining a Market Outperform rating.

The analyst commented, "We think uncertainty around elections, budgets, combined with the ongoing need to navigate the continuing resolution process have created an overhang across the sector, particularly for high-growth defense tech and autonomous systems names. Accordingly, as a result of multiple compression across our peer groups, we are lowering our price targets for AVAV and KTOS."