Shares of Kratos Defense and Security Solutions Inc (NASDAQ:KTOS) are up 2.7% at $70.79 at last glance, trading at fresh 20-year highs, after an upgrade from BTIG to "buy from "neutral." The brokerage also lifted its price target to $72 from $55, citing potential growth in its Unmanned Aerial Systems unit.
This is one of several bull notes in the last week, after the company hiked its full-year forecast following strong second-quarter revenue. On Monday, Canaccord Genuity initiated coverage with a "buy" rating.
Coming into today, 12 of the 15 analysts in coverage carried a "buy" or better rating, with three a "hold." The 12-month consensus price target of $70.85 is a 0.3% premium to current estimates.
Year-to-date, KTOS is outperforming with a 167% lead, up 105% in just the last three months. There is still some short covering potential left, too, as short interest represents 6% of the stock's available float.
