UPDATE: Jefferies Raises PT on Kratos Defense & Security Following Raised Revenue Forecast

In a report published Thursday, Jefferies analyst Sheila Kahyaoglu reiterated a Hold rating on Kratos Defense & Security Solutions KTOS, and raised the price target from $7.10 to $9.70. In the report, Jefferies noted, “We are raising our target price to $9.70 from $7.10. Our FY13 EPS estimate of ($0.30) remains unchanged. We are revising our FY14 EPS estimate to $0.30 from $0.10. Our forecast now assumes a debt refinancing on January 1st. We are also raising our revenue forecast slightly given the backlog of potential awards that may materialize next year.” Kratos Defense & Security Solutions closed on Wednesday at $8.46.