Morgan Stanley Hikes Leonardo DRS, Inc. (DRS)'s Price Target To $47, Maintains Equal-Weight Rating

Leonardo DRS, Inc. (NASDAQ:DRS) is among the 11 Best Large Cap Defense Stocks to Buy According to Analysts. On July 31, Morgan Stanley analyst Kristine Liwag raised the stock’s price target to $47 from $44, while maintaining an Equal-Weight rating for its shares.

The adjustment, which reflects a nearly 11% upside from its current trading price, followed Leonardo DRS, Inc. (NASDAQ:DRS)’s second-quarter financial results a day earlier, in which the company beat earnings estimates and posted a 42% surge in net profit, driven by healthy bookings, solid organic revenue growth, and continued margin expansion.

Leonardo DRS, Inc. (NASDAQ:DRS)’s backlog rose 9% year-over-year to $8.6 billion, signalling significant potential for future revenue growth. The defense technologies company also raised its guidance across all metrics, citing continued organic growth.

In other related news, on July 11, Truist Securities reiterated a Buy rating for the stock and lifted its share price target to $51 from $45. Goldman Sachs also recently initiated coverage of Leonardo DRS, Inc. (NASDAQ:DRS) with a Buy rating and announced a price target of $49.

Wall Street analysts maintain a positive outlook for the stock, with 6 out of 9 firms having a Buy rating for its shares. Leonardo DRS, Inc. (NASDAQ:DRS) has a one-year average share price target of $48.67, representing a 15.20% upside potential.

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