Benzinga | Jan 21, 2022 03:26PM EST

Berenberg Is Bullish On Curtiss-Wright, Mercury Systems, Kratos

* Berenberg analyst Christopher Rieger initiated coverage of four U.S. aerospace and defense company stocks.

* The analyst initiated Curtiss-Wright Corp (NYSE:CW) with a Buy rating and a price target of $170.

* Rieger notes the company has created best-in-class exposures to niche and highly defensible applications with its "attentive and active" approach to its product portfolio, which he believes is underappreciated.

* The analyst initiated Mercury Systems Inc (NASDAQ:MRCY) with a Buy rating and a price target of $76.

* Rieger believes Mercury offers investors an opportunity to own a high-quality defense electronics player poised to benefit from secular tailwinds and company-specific developments.

* The analyst initiated Kratos Defense & Security Solutions Inc (NASDAQ:KTOS) with a Buy rating and a price target of $23.

* Rieger believes Kratos is well-positioned for the rapid growth potential and an expected ramp in spending in space applications.

* The analyst initiated coverage on AeroVironment, Inc. (NASDAQ:AVAV) with a Hold rating and a price target of $66.

* Price Action: CW shares are trading higher by 0.41% at $136.84, MRCY by 0.09% at $57.84, KTOS lower by 0.76% at $16.97, and AVAV by 1.02% at $57.44 on the last check Friday.