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Fly News Breaks for December 7, 2018
KTOS
Dec 7, 2018 | 07:24 EDT
Canaccord analyst Ken Herbert noted Kratos Defense shares outperformed yesterday due to takeover speculation fueled by a Dealreporter story. The analyst said he is not surprised by the speculation given the company has leveraged its cost advantage and head start from its legacy target drone programs to build a very successful tactical drone program. He also believes the company is well positioned to grow in any defense budget climate. Herbert reiterated his Buy rating and $16 price target on Kratos Defense shares.
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