KTOS - Kratos upgraded to Buy at Cannacord Genuity on space drone growth

Kratos Defense & Security ( NASDAQ: KTOS ) on Friday was upgraded to Buy from a prior investment rating of Hold by analysts at Cannacord Genuity. They said the aerospace and defense company has a favorable outlook for its space, satellite and cybersecurity business, while tactical drones have strong growth potential.

"Management does not assume a tactical drone revenue ramp in its guidance," Austin Moeller, analyst at Cannacord Genuity, said in a February 24 report, "but it remains apparent that the company’s competitors are not anywhere close to having a comparable system to Valkyrie or Air Wolf."

More to come....

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