2024-05-16 08:38:11 ET
Summary
- Leonardo DRS stock has steadily climbed since the acquisition of Rada Electronic Industries, with potential to reach $26 per share in 6 months and $30 in 12 months.
- The company's strong growth, momentum, profitability, and positive Q1 '24 results support its buy rating for retail value investors.
- DRS operates in the aerospace and defense industry, where spending is up. DRS has strong ties with the US, Israel, and Italy, offering growth opportunities in the aerospace/defense markets.
Room to Grow
Leonardo DRS (DRS) stock steadily climbed in price from about $9.70 to near $23 per share since the all-stock purchase in June ‘22 of Israeli military technology developer and manufacturer Rada Electronic Industries. Our buy rating assessment of Leonardo DRS stock for retail value investors is justified by more aerospace and defense spending, the DRS outlook for growth and profitability, and the stock's valuation....
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Leonardo DRS Has Upside Potential