RBC Capital analyst Ken Herbert keeps an Outperform rating and $27 price target on Kratos Defense (KTOS) after the company announced its $1.45B five-year OTA contract for the Multi-Service Advanced Capability Hypersonic Test Bed, MACH-TB, contract. The DoD hypersonics activity is not as visible as it was several years ago, but the funding for hypersonics will see an increase as technologies continue to mature, the analyst tells investors in a research note. RBC maintains its view that Kratos is “very well positioned” under the second Trump administration, with space, unmanned flight, missile/missile defense, and hypersonics seen as “key growth markets”.
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