Leonardo DRS price target raised to $40 from $37 at Truist

Truist raised the firm’s price target on Leonardo DRS (DRS) to $40 from $37 and keeps a Buy rating on the shares as part of a broader research note previewing Q1 results for Aerospace & Defense industry. The set up heading into the earnings season will be littered with unknowns, uncertainty, and what may turn out to be a lack of clarity from management teams regarding the outlooks for 2025 as tariff implications coupled with recessionary fears will likely have an impact on the cyclically-sensitive sector coverage, the analyst tells investors in a research note. Investors may be better served leaning into the more stable and predictable defense sector, especially against the backdrop of several favorable defense spending developments, Truist added.