JMP Securities analyst Trevor Walsh raised the firm's price target on Kratos Defense ( KTOS ) to $30 from $27 and keeps an Outperform rating on the shares. The company's Q3 results were "respectable" as Kratos prepares for a potential boost to defense budgets based on the recent U.S. presidential election results, especially around advanced technology programs to address emerging threats, the analyst tells investors in a research note. Kratos is well-positioned to capitalize on a diverse set of emerging opportunities and is building the manufacturing capacity to answer that demand, though finding and keeping the right personnel to execute on those plans continues to be a challenge for management, the firm notes. JMP continues to like Kratos as an opportunity for long-term capital appreciation.