Target Price Increase

CFRA increased its target price to $369 from $325, based on a 32× FY27 EPS estimate. It raised FY26 and FY27 EPS estimates to $10.14 from $8.87 and $11.53 from $10.17, citing record orders of over $2 B that grew 56 % YoY versus 31 % revenue growth. CSG revenue expanded 35 % YoY, EISG 24 % and ADG posted record orders tied to defense modernization. Operating leverage translated into record free cash flow of $472 M. Shares have climbed 69 % year‑to‑date.