Kratos Drones are the future of warfare Kratos Defense & Security (KTOS +6.1%) flies higher after Goldman Sachs upgrades shares to Buy from Neutral with a $26 price target, raised from $24, saying 2020 is shaping up for a substantial growth acceleration for the company.
Goldman's Noah Poponak says KTOS's "multi-year, multi-program, strong long-term growth story is intact and approaching," while the shares are down 30% from a 52-week high, which provides a buying opportunity.
Beyond 2020, the company's organic revenue could grow in a 23%-30% range annually through 2023, Poponak says.
Source Seeking alpha
Company profile
Kratos Defense & Security Solutions, Inc. engages in the provision of technology systems to the U.S. Department of Defense. It operates through the following segments: Kratos Government Solutions, Unmanned Systems and Public Safety & Security. The Kratos Government Solutions segment includes microwave electronic products, satellite communications, modular systems, and rocket support operating. The Unmanned Systems segment consists of unmanned aerial system and unmanned ground & seaborne system businesses. The Public Safety & Security segment provides independent integrated solutions for advanced homeland security, public safety, critical infrastructure and security & surveillance systems for government and commercial applications. The company was founded on December 19, 1994 and is headquartered in San Diego, CA.
