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Leonardo DRS, Inc. (NASDAQ:DRS) is one of the Best Aerospace Stocks to Buy According to Analysts. On December 8, Leonardo DRS, Inc. (NASDAQ:DRS) announced signing a Memorandum of Intent with the Kingdom of Saudi Arabia’s Ministry of Defense to explore opportunities for MOD ground combat vehicles and dismounted forces.
The MOI follows the announcement of the United States of America’s Strategic Defense Agreement with Saudi Arabia. As part of this agreement, Leonardo DRS, Inc. (NASDAQ:DRS) will collaborate with the country in supporting its Vision 2030 defense modernization roadmap. The MOI includes establishing high-performance battle management systems to provide digital command-and-control tools, collaborating on providing advanced C6ISR solutions for units at the brigade level and below, and providing rugged vehicle computing hardware, Multi-Function Rugged Displays, among others.
In addition to this, Wall Street also remains bullish on the stock. Recently, on December 5, Austin Moeller from Canaccord Genuity reiterated a Buy rating on the stock with a $50 price target. Earlier on December 4, Michael Ciramoli from Truist Financial also reiterated a Buy rating on the stock without disclosing any price targets.
Leonardo DRS, Inc. (NASDAQ:DRS) designs, develops, and manufactures advanced defense technologies, including sensing, network computing, force protection, electric power, propulsion, and mission-critical systems for US national security and allies.
While we acknowledge the potential of DRS 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: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
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