UPDATE: Jefferies Reiterates Hold Rating, Lowers PT on Kratos Defense & Security Solutions on Q4 EPS

In a report published Wednesday, Jefferies analyst Howard A. Rubel reiterated his Hold rating on Kratos Defense & Security Solutions

, but slightly lowered his price target from $6.00 to $5.00. In the report, Rubel noted, “Kratos reported Q4 EPS of ($1.61) vs. our estimate of ($0.08). The loss was due to non-cash goodwill and intangible asset impairment charges of $96.6MM. Revenues of $263.6MM matched our forecast. Excluding one time items, we estimate KTOS broke even.” Kratos Defense & Security Solutions closed on Tuesday at $4.48.