KTOS - Why Kratos Defense Stock Popped More Than 7% on Friday
2024-04-26 13:27:51 ET
Kratos Defense & Security Solutions (NASDAQ: KTOS) got a big lift Friday when investment bank Raymond James upgraded its stock from outperform to strong buy and raised its price target to $27 a share.
As of 1:22 p.m. ET, shares of the tiny defense contractor were up by about 7.5%.
The reason for the upgrade was obvious: "Drones & Air Defense ... demand has accelerated with the ongoing and escalating conflicts globally," wrote analyst Brian Gesuale. What's more, the conflicts in Ukraine and Israel are giving rise to rapid advances in both drone and missile defense technology.
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Why Kratos Defense Stock Popped More Than 7% on Friday