Leonardo DRS price target raised to $32 from $30 at Truist

Truist raised the firm’s price target on Leonardo DRS to $32 from $30 and keeps a Buy rating on the shares. The company’s “across the board beat”, guidance lift, and 1.2x book-to-bill were somewhat overshadowed by program-specific margin pressure, which drove down 2024 EBITDA margin guidance and what is seemingly implied revenue growth deceleration in the coming periods from the supply chain tailwinds that are now benefiting 2024, the analyst tells investors in a research note.