Angelica Ballesteros
1 min read
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Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) is one of the 10 Stocks Leave Wall Street Stunned.
Kratos Defense jumped by 10.91 percent on Friday to close at $45.84 apiece following an investment firm’s upgrade of its stock price target.
In a market note on Thursday, Truist Securities said it raised its price target for Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) to $52 from $38 previously while maintaining a “buy” recommendation. The new price marked a 13.4-percent upside from its latest closing price.
A technician in a laboratory carrying out research and development of microwave electronics.
The upgrade followed Kratos Defense & Security Solutions, Inc.’s (NASDAQ:KTOS) plans to raise $500 million through the issuance of 15 million additional shares in a bid to raise funds for new projects totaling $200 million.
According to Truist, the new projects have the potential to raise the listed firm’s revenues by $150 million in the coming years, adding that it was bullish on the company for this year and the next amid higher growth expectations from the new contracts.
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READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
