Shares of Kratos Defense & Security Solutions (KTOS) are soaring 5.05% in pre-market trading on Thursday, following a significant upgrade from BTIG. The defense and security company's stock is gaining momentum after BTIG raised its rating from Neutral to Buy, coupled with an ambitious price target of $80.
The upgrade comes as a strong vote of confidence in Kratos Defense's future prospects. BTIG's decision to upgrade the stock suggests that the firm sees substantial upside potential in the company's business model and market position. This positive outlook is likely driving investor enthusiasm and contributing to the stock's pre-market rally.
According to FactSet data, Kratos Defense & Security Solutions now has an average rating of Buy among analysts, with a mean price target of $70.41. The combination of BTIG's upgrade and the overall positive sentiment from analysts could potentially fuel further gains for KTOS stock in the near term, as investors reassess the company's growth trajectory and market opportunities in the defense and security sector.