- Needham analyst Alex Henderson maintained Telos Corp (NASDAQ:TLS) with a Buy and raised the price target from $10 to $13.
- Telos announced today that the Transportation Security Administration had granted the company the authority to operate its TSA Precheck System.
- Telos can now first provide initial trial enrollment services to a limited population of applicants to validate systems and processes. However, it still expects the ATO to be launched broadly in CY22.
- TSA was initially likely to contribute ~$100 million to Telo's Revenue in CY22. Still, push-outs and delays led him to entirely remove TSA from the forecasts, making it a potential driver of significant upside.
- He was encouraged by the news.
- He saw it as a step in the right direction that could drive an upside to his model in CY23.
- Price Action: TLS shares traded higher by 16.6% at $9.75 on the last check Thursday.
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