JMP Securities raised the firm’s price target on Kratos Defense (KTOS) to $40 from $30 and keeps an Outperform rating on the shares. JMP sees Kratos as a direct opportunity for investing in the hypersonics wave as evidenced by being selected as the prime contractor for the $1.45B MACH-TB 2.0 Hypersonic Test Bed program, the Defense Department’s largest hypersonic testing contract, and a separate $100M Hypersonics Systems Program, and tells investors that Kratos will be a strong contender for operationalized systems post testing and evaluation.
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