Fly News Breaks for March 20, 2017
Mar 20, 2017 | 06:37 EDT
Citi analyst Jason Gursky raised his price target for Mercury Systems to $48 from $45 after spending time with management. The stock is up 135% over the last year, but there is more room to go, Gursky tells investors in a research note. Mercury's business model is well positioned in the "evolving defense paradigm" which prioritizes affordable and innovative solutions, the analyst contends. He continues to see a path to $60 per share "over time" and keeps a Buy rating on Mercury Systems.
News For MRCY From the Last 2 Days
Oct 18, 2017 | 08:46 EDT
SunTrust analyst Michael Ciarmoli says that despite the outperformance of the aerospace & defense sector relative to broader market in Q3, strength will continue thanks to a U.S. government "budget flush", pick up in foreign military sales, and increases in Middle East airstrikes. Ciarmoli adds that he expects commercial aerospace aftermarket momentum to continue. The analyst is raising is price targets on KLX Inc (KLXI) to $59 from $56, Mercury Systems (MRCY) to $56 from $51, and Curtiss-Wright (CW) to $128 from $115, maintaining a Buy rating on those stocks. Ciarmoli also raises the price target on Spirit Aerosystems (SPR) to $83 from $78, but keeps a Hold rating given the cyclical risks in commercial aerospace and potential changes to aircraft production rates.
Oct 17, 2017 | 16:19 EDT
Mercury Systems received $4.7M in orders from a defense prime contractor for high performance radio frequency subsystems integrated into an advanced airborne electronic protection system. The order was booked in the company's 1Q18 and is expected to be shipped over the next several quarters.