Defense firm Kratos climbs after BTIG turns bullish

Shares of Kratos Defense & Security Solutions KTOS.O up 5.2% at $72.34 after BTIG upgrades to 'buy' from 'neutral'

Brokerage sets PT at $80, a tie for Street-high, per LSEG

KTOS's affordable technology, ready now solutions, and exposure to key areas of priority make co a "prime beneficiary of growing defense budgets globally," BTIG wrote in note

BTIG said it has conviction KTOS could see significant growth in its Unmanned Systems business (KUS) in the coming year

Strong growth and margin expansion expected in the out years, BTIG said, as co's recent contract wins ramp up and dilutive contracts are renewed at higher price points

San Diego-based KTOS' stock got a boost last month after U.S. Defense Secretary Pete Hegseth ordered sweeping new directives to fast-track drone production and deployment

Now, 12 of 14 brokerages rate KTOS "strong buy" or "buy" and 2 have "hold"; m edian PT of $70 up from $52 a month ago and from $39 on Jun 14

With move on the session, stock up ~173% YTD