Drexel Hamilton analyst Brian Ruttenbur maintained a Buy rating on Kratos Defense (KTOS) today and set a price target of $18. The company’s shares closed on Friday at $15.54, close to its 52-week high of $16.09.
Ruttenbur wrote:
“We continue to believe the unmanned division holds the potential for a “step function” in terms of growth in 2019/2020 from the ramp of new programs. We believe much of the valuation and excitement with shares of KTOS revolve around future UAS programs.”
According to TipRanks.com, Ruttenbur is a 4-star analyst with an average return of 7.4% and a 61.1% success rate. Ruttenbur covers the Consumer Goods sector, focusing on stocks such as General Dynamics Corp, Mercury Systems Inc, and Huntington Ingalls.
Kratos Defense has an analyst consensus of Strong Buy, with a price target consensus of $18, a 15.8% upside from current levels. In a report issued on November 7, B.Riley FBR also reiterated a Buy rating on the stock with a $16 price target.
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Based on Kratos Defense’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $1.7 million. In comparison, last year the company had a GAAP net loss of $4.3 million.
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Kratos Defense & Security Solutions, Inc. engages in the provision of technology systems to the U.S. Department of Defense. It operates through the following segments: Kratos Government Solutions, Unmanned Systems, and Public Safety & Security.
