As previously reported, BofA analyst Ronald Epstein initiated coverage of Elbit Systems (ESLT) with a Buy rating and $500 price target The “leader in defense technology and innovation” based in Israel is a key supplier to Western Allies around the world and is currently benefiting from the global defense re-armament, the analyst tells investors. The firm views a valuation that is a premium relative to U.S. large cap defense names, but in line with small-to-mid cap U.S. and European defense names as “fair,” the analyst added.
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