As previously reported, B. Riley analyst Mike Crawford upgraded Kratos Defense (KTOS) to Buy from Neutral with a price target of $35, up from $26, citing “a significant boost to our now Street-high estimates” following the company’s “remarkable” $1.45B five-year OTA contract for the Multi-Service Advanced Capability Hypersonic Test Bed 2.0. This is “the single largest contract award” in Kratos’ history as well as a significant win from what had been a $12B qualified bid and proposal pipeline, says the firm, which believes Kratos will take down the full $1.45B value with all options exercised for this MACH-TB award.
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Read More on KTOS:
- Kratos Defense receives hypersonic system program award, $100M potential value
- Kratos Defense upgraded to Buy from Neutral at B. Riley
- Kratos Defense awarded $48M contract for geolocation global support services
- Rocket Lab price target raised to $31 from $26 at Stifel
- Rocket Lab selected by Kratos to deliver hypersonic test launches for DoD
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