Truist analyst Michael Ciarmoli raised the firm’s price target on Leonardo DRS to $27 from $25 and keeps a Buy rating on the shares after hosting investor meetings with its management. The company remains confident and committed to its mid- term growth and margin targets, and its new South Carolina facility should help to drive increased opportunities and revenue from the Navy, the analyst tells investors in a research note. Leonardo’s capital deployment will continue to be focused toward M&A, which should drive upside to its estimates, the firm added.
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