Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTAbdul RahmanFri, June 26, 2026 at 7:48 PM GMT+2 2 min readMercury Systems Inc (NASDAQ:MRCY) is one of the best stocks to buy according to Billionaire Barry Rosenstein. The stock has surged more than 120% over the past year, and some 32 hedge funds are backing it. Mercury Systems accounts for roughly 19% of the billionaire's portfolio.Mercury Systems Inc (MRCY) Sits on $1.6 Billion Backlog. Jefferies Commented About ItOn June 2, Jefferies raised its price target on Mercury Systems Inc (NASDAQ:MRCY) shares to $105 from $95 while keeping a Hold rating on the stock. The brokerage raised the target after meeting the company's executive team, including CEO Bill Ballhaus.Jefferies noted that Mercury's low-margin backlog is diminishing quickly, and may be out of the base by fiscal 2027. The company exited the March quarter with a backlog of $1.6 billion, which it said increased almost 18% from the prior year. The company expects to recognize $891 million of the backlog as revenue in the next 12 months.In addition to improving backlog quality, the brokerage noted that Mercury is positioned to benefit from increasing budgets and Golden Dome opportunities. On May 28, Mercury announced that it secured an order from Blue Raven to supply 1,000 units of certain server products. Blue Raven, the client, is a leading distributor in the defense industry.Mercury Systems Inc (NASDAQ:MRCY) makes components, modules, and subsystems used in defense, aerospace, and space industries. Its technology helps in areas like secure signal and data processing.While we acknowledge the potential of MRCY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.READ NEXT: 10 Most Promising Healthcare Stocks According to Wall Street Analysts and 15 High-Growth Large-Cap Stocks to Invest In Now.Disclosure: None. Follow Insider Monkey on Google News.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info