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KTOS

Kratos Defense

$10.43

0.05 (0.48%)

05:24
12/01/17
12/01
05:24
12/01/17
05:24

Kratos Defense initiated with a Neutral at JPMorgan

JPMorgan analyst Seth Seifman started Kratos Defense & Security Solutions with a Neutral rating and $13 price target. The analyst believes the recent share rally captures much of the upside from the company's growth and repaired balance sheet.

KTOS Kratos Defense
$10.43

0.05 (0.48%)

08/15/17
08/15/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Kratos Defense (KTOS) initiated with a Buy at Drexel Hamilton. 2. PetIQ (PETQ) was initiated with an Outperform at Raymond James, William Blair, and Oppenheimer, while being initiated with a Buy at SunTrust and a Hold at Jefferies. 3. Donnelley Financial Solutions (DFIN) initiated with a Neutral at JPMorgan. 4. Calyxt (CLXT) initiated with a Buy at Citi. 5. Ecolab (ECL) initiated with an Equal Weight at Morgan Stanley. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/01/17
ADAM
11/01/17
NO CHANGE
Target $15
ADAM
Buy
Kratos Defense report focus will be on backlog, says Canaccord
Canaccord analyst Ken Herbert previewed Kratos Defense's Q3 report and he expects the numbers to be in-line but for investors to focus on the company's backlog. Q2 showed a softer backlog due to the timing of awards so a step up is to be expected. The analyst does not expect guidance until the next quarterly call, but he views Kratos as a core holding for exposure to the defense budget cycle and specific areas of upside in unmanned systems, satellite communications, missile defense, and training. Herbert reiterated his Buy rating and $15 price target on Kratos Defense shares.
11/06/17
ADAM
11/06/17
NO CHANGE
Target $15
ADAM
Buy
Kratos Defense weakness attributed to capital raise speculation, says Canaccord
Canaccord analyst Ken Herbert noted Kratos Defense shares were weak following Q3 results as he heard a short reported had been circulating the company was planning to issue a convertible bond offering. Although he could not verify the existence of the report, he said management indicated they have no plans to issue any converts and the only planned balance sheet activity is its well-known debt refinance strategy that would cut about $100M of debt. Herbert reiterated his Buy rating and $15 price target on Kratos Defense shares.
11/08/17
ADAM
11/08/17
NO CHANGE
Target $15
ADAM
Buy
Kratos Defense note offering a net positive, says Canaccord
Canaccord analyst Ken Herbert believes the Kratos Defense note offering is a net positive as it will enable the company to retire all of its current 2019 outstanding debt while providing the company with more than $100M of cash to invest in organic growth opportunities. The analyst said the next challenge will be for the company to demonstrate that the better than expected top-line outlook can translate into the EBITDA and free cash flow that he believes is possible. Herbert reiterated his Buy rating and $15 price target on Kratos Defense shares.

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