Raymond James Begins Coverage of Karman Holdings with a Strong Buy Rating and Sets Price Target at $100
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 05 2025
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Should l Buy KRMN?
Source: Benzinga
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Analyst Views on KRMN
Wall Street analysts forecast KRMN stock price to fall
7 Analyst Rating
7 Buy
0 Hold
0 Sell
Strong Buy
Current: 88.460
Low
70.00
Averages
80.50
High
89.00
Current: 88.460
Low
70.00
Averages
80.50
High
89.00
About KRMN
Karman Holdings Inc. conducts business as Karman Space and Defense, which specializes in the design, development and production of critical, next-generation system solutions for launch vehicle, satellite, spacecraft, missile defense, hypersonic and unmanned aircraft systems (UAS) customers. Its integrated payload protection, propulsion, and interstage system solutions are deployed across a wide variety of existing and emerging programs supporting important Department of Defense (DoD) and space sector initiatives. It has developed a proprietary portfolio of technically complex products and capabilities with specialization in complex nozzles and other engineered products for launch vehicle engine applications. Its payload protection system involves the full design and manufacturing of the top section of a booster, launch vehicle, payload, or missile system. Its propulsion systems involve the integrated offering of solid rocket motor subsystems, launch systems, and ablative composites.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Investment in Karman Holdings: The investor letter highlighted a recent purchase of Karman Holdings Inc. (NYSE:KRMN), a defense technology firm specializing in mission-critical systems, with a market capitalization of $11.705 billion.
- Karman Holdings Performance: As of February 19, 2026, Karman Holdings' stock closed at $88.46 per share, with a one-month return of -18.26% but a remarkable 201.60% gain over the past 52 weeks, indicating strong long-term growth potential.
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- Small Cap Strategy Performance: Conestoga Capital Advisors reported a -1.89% net return for its Small Cap Strategy in Q4 2025, significantly trailing the Russell 2000 Growth Index's 1.22% return, reflecting extreme volatility and shifts in market leadership.
- Investment in Karman Holdings: The investor letter highlighted a recent purchase of Karman Holdings Inc. (NYSE:KRMN), a defense technology firm specializing in mission-critical systems, with a market capitalization of $11.705 billion.
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- Legal Basis: The Court ruled that the International Emergency Economic Powers Act does not grant the president the authority to impose tariffs, emphasizing that only Congress holds this power during peacetime, leaving unresolved issues regarding over $130 billion in tariffs already collected.
- Market Reaction: The ruling intensifies competitive pressures on small-cap firms that previously benefited from elevated import duties, reflecting investor concerns about domestic economic stability amid increasing foreign competition.
- Macroeconomic Context: The U.S. GDP growth rate for Q4 2025 was just 1.4%, significantly below the expected 3%, while the Personal Consumption Expenditures index rose by 0.4%, indicating rising inflationary pressures that further affect market sentiment.
See More
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- Bitcoin Hedge Narrative Dismissed: Cramer questioned Bitcoin's effectiveness as a safe-haven asset amid escalating U.S.-Iran tensions, suggesting that it fails to hedge against geopolitical risks, which could undermine investor confidence.
- Market Sentiment Shift: He remarked that the cryptocurrency market is experiencing a “slaughter,” indicating a significant downturn in sentiment towards Bitcoin and other cryptocurrencies, which may affect short-term investment decisions.
- Bitcoin Price Fluctuations: According to CoinMarketCap, Bitcoin's latest price is $66,119.28, down 1.86% over the past 24 hours but up 1.55% over the last week, reflecting market instability and cautious investor behavior.
- Institutional Access Fails to Boost Market: Despite institutional investors entering the market, Cramer's comments may exacerbate negative perceptions of Bitcoin, potentially impacting future investment inflows and overall market dynamics.
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- Military Power Enhancement: The U.S. is significantly increasing its deployment of fighter jets and support aircraft in the Middle East, marking the largest air power presence since the 2003 Iraq invasion, potentially preparing for strikes against Iran.
- Carrier Deployment: A second aircraft carrier equipped with attack and electronic warfare jets has been deployed, further enhancing U.S. military presence in the region and indicating high vigilance towards potential conflicts.
- Command and Control Capability: Command-and-control aircraft are en route to the Middle East, essential for coordinating large-scale air operations, indicating U.S. readiness for a sustained air campaign.
- Strategic Decision Uncertainty: Despite President Trump being briefed on military options, he has shown a preference for negotiations, leaving the authorization for strikes against Iran uncertain, reflecting the complex geopolitical landscape.
See More
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- Defense Stocks Surge: U.S. defense stocks rose sharply as reports indicated the Trump administration is nearing potential military action against Iran, with the SPDR S&P Aerospace & Defense ETF (NYSE:XAR) gaining 2% and the Global X Defense Tech ETF (NYSE:SHLD) rising 2.7%, significantly outperforming the broader market and reflecting bullish sentiment in the defense sector.
- Military Presence Expands: The U.S. has significantly increased its military footprint in the Middle East, deploying two aircraft carriers, multiple warships, hundreds of fighter jets, and advanced air defense systems, indicating preparations for a sustained military campaign in response to escalating tensions.
- Prediction Markets Flash Warning: Betting-implied odds on Polymarket for a U.S. attack on Iran surged, with probabilities rising 8 percentage points to 20% by February 21, and a dramatic increase to 55% by March 15, highlighting growing market concerns over potential escalation in the region.
- Limited Diplomatic Progress: Diplomatic talks between U.S. and Iranian officials have shown limited progress, with Vice President JD Vance stating that diplomacy could reach its “natural end” if Iran fails to meet U.S. red lines related to its nuclear program, further intensifying market anxiety regarding the situation.
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- Zillow Group: Zillow Group (NASDAQ:Z) decreased by 20.89% this week due to mixed fourth-quarter financial results that failed to boost investor confidence, leading to downward pressure on its stock price.
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