Fly News Breaks for April 26, 2019
Apr 26, 2019 | 08:17 EDT
Canaccord analyst Ken Herbert raised his price target for Mercury Systems to $76 from $64 and maintained a Buy rating ahead of the company's Q3 results on April 30. Mercury Systems has been one of the best performing A&D stocks this year, up over 50% compared to under 20% for the broader A&D small cap universe, Herbert tells investors in a research note, adding that he believes Mercury will benefit from the strong fundamentals and that recent acquisitions should help with incremental upside. Herbert likes the stock into the Q3 results, even with the recent strength, and continue to view Mercury as a core holding for small-cap exposure to the defense cycle.
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