Jefferies raised the firm’s price target on Kratos Defense (KTOS) to $30 from $25 and keeps a Hold rating on the shares. As “the market comes to terms with what the future of defense could look like” under President-elect Trump and Elon Musk and Vivek Ramaswamy’s new Department of Government Efficiency, the firm analyzed Kratos’ opportunity, concluding that the addition of Athena and Apollo “sets a floor for growth” at low-double digits into 2025 as targeted drones “remain an area of strength.”
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