JPMorgan analyst Seth Seifman upgraded Kratos Defense & Securities Solutions to Overweight from Neutral and raised his price target for the shares to $24 from $18. Kratos has made good progress on "several fronts," the most important being its Valkyrie tactical drone, which has gained the attention of Air Force, Seifman tells investors in a research note. While the Valkyrie will not bring an "earnings windfall near term," milestones on it and other programs should help Kratos shares "for the time being," says the analyst. Further, he believes the company's base business is performing well.