Jun. 30 at 5:33 AM
$DRS Leonardo DRS initiated with a Buy at Goldman Sachs
Goldman Sachs analyst Anthony Valentini initiated coverage of Leonardo DRS with a Buy rating and
$49 price target. DRS is a supplier of critical components to the U.S. defense ecosystem and is "uniquely positioned as a mid-tier" with a high percent of sole-sourced products that are aligned with the fastest growing areas of the defense budget, the analyst tells investors in a research note.
The firm says the company's platform is agnostic, insulating it from the risk of losing large program awards. It also has significant content in some of the most critical areas of national security, like missile defense, sensors, electric propulsion, and submarines, enabling growth above the end market., contends Goldman.
