V2X price target raised to $55 from $50 at RBC Capital

RBC Capital raised the firm’s price target on V2X to $55 from $50 and keeps an Outperform rating on the shares. The company’s Q1 results marked a “solid” start to 2024, though the firm is not surprised by the subsequent pressure on the stock amid increased expectations had that V2X would raise guidance, the analyst tells investors in a research note. Sentiment on V2X has recently improved, with the FY24 Defense Department budget finalized and Ukraine/Israel/Taiwan supplemental spending passed, the firm added.