V2X initiated with an Outperform at Baird

Baird initiated coverage of V2X with an Outperform rating and $75 price target The firm sees nearly 30% upside and path to 50% appreciation as the company’s “deleveraging further kicks in.” V2X is a global play on U.S. national security interests with 94% of revenues derived as a prime contractor role with contract mix diversified both domestically and internationally, the analyst tells investors in a research note. Baird sees “healthy upside” in the stock as management further optimizes post the 2022 merger and free cash flow ramps.