UPDATE: Jefferies & Company Reiterates Hold Rating, Lowers PT on Kratos Defense & Security Solutions

In a report published Friday, Jefferies & Company reiterated its Hold rating on Kratos Defense & Security Solutions KTOS, but slightly lowered its price target from $6.30 to $6.00. Jefferies noted, “KTOS reported revenues of $276.3MM, which included $34.7MM from CEI. In the year-ago period, the company generated revenues of $211MM. Net Income from Cont. Ops was a loss of $4.4MM vs. a loss of $7.2 million in the year-ago period. Our estimate was for a loss of $2.9MM on revenues of $256MM.” Kratos Defense & Security Solutions closed on Thursday at $5.26.