- Kratos Defense & Security Solutions, Inc (NASDAQ:KTOS) announced partnership with North American Wave Engine Corporation to develop the Versatile Air-Launched Platform (VALP).
- VALP is an air-launched vehicle designed to leverage and demonstrate low-cost, high-impact technologies for future aerial systems.
- VALP will be using Wave Engine Corp.’s propulsion technology to lower cost curve and reduce lead times for capabilities necessary to challenge near peer adversaries.
- Last month, Wave Engine Corp. bagged a $1 million contract from the U.S. Air Force Armament Directorate. In support of this contract award, Kratos will be leading the aerodynamic and structural design of the airframe, and providing systems engineering support.
- Price Action: KTOS shares are up 0.54% at $27.91 on the last check Friday.
JP Morgan Upgrades Palo Alto Networks to Neutral, Raises Price Target to $620
JP Morgan analyst Sterling Auty upgrades Palo Alto Networks (NASDAQ:PANW) from Underweight to Neutral and raises the price target from $600 to $620.
