Karman initiated with an Outperform at Evercore ISI

Evercore ISI initiated coverage of Karman (KRMN) with an Outperform rating and $38 price target The firm’s “bullish bias” is driven by Karman’s ability to sustain mid-to-high teens sales and EPS growth over the next several years amid a host of secular tailwinds, including rapid growth in U.S. orbital launch volume, increasing U.S. defense focus on missile defense and hypersonics and a multi-year restocking of missile and missile defense inventories among the U.S. and its NATO allies, the analyst tells investors.