KTOS is trading 6.6% up at $50.06 after Clear Street raised its price target to $84 from $82, pointing to a $2 billion backlog and a stronger 2026 outlook.
- Clear Street analysts highlighted the company's substantial backlog and improved long-term guidance as primary catalysts for the upgrade.
- The move aligns with a broader bid for defense stocks as geopolitical risks and Middle East tensions continue to drive sector strength.