Fly News Breaks for January 29, 2020
Jan 29, 2020 | 09:23 EDT
Canaccord analyst Ken Herbert raised his price target on Mercury Systems to $85 from $80 following strong Q2 results. The analyst noted its raised guidance and its renewed focus on EBITDA margins. He believes the strength in defense spending is driving more outsourcing by the larger firms which is a positive for the company. Herbert believes the fundamentals remain strong despite some profit-taking that may occur. Herbert reiterated his Buy rating on Mercury Systems shares.
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