Karman initiated with an Outperform at RBC Capital

RBC Capital initiated coverage of Karman (KRMN) with an Outperform rating and $35 price target target. Karman is a leading merchant supplier of highly engineered mission-critical systems for missile, defense, and space programs, the analyst tells investors in a research note. The firm says the company offers exposure to most of the leading national security and space missile and launch programs, supporting an 18% organic growth outlook annually. RBC believes Karman should benefit from a “scarcity of quality SMID-cap defense stocks.”