UPDATE: Dominick & Dominick Upgrades KEYW Holding to Buy, $17 PT

In a report published Monday, Dominick & Dominick upgraded its rating on KEYW Holding Corp. KEYW to Buy and instituted a $17.00 price target. Dominick & Dominick noted, “We have raised our recommendation on KEYW to a Buy and instituted a $17 price target. The company has announced two transformative acquisitions over the past few weeks, and we believe this will lead to an acceleration in revenue, EPS and EBITDA growth as well as a multiple revaluation. Our price target assumes an EV/revenue multiple of 2.0x on our 2013 revenue estimate of $350 million. Risks include a potential weakening economy, reduced government spending and delays in government spending.” KEYW Holding Corp. closed on Friday at $12.73.