Leonardo DRS price target raised to $50 from $40 at BofA

BofA raised the firm’s price target on Leonardo DRS (DRS) to $50 from $40 and keeps a Buy rating on the shares. The firm, which continues to think DRS is in “a strong position to capitalize” on increased focus on expanding shipbuilding capabilities and throughput, sees the renewed emphasis on shipbuilding, coupled with continued strong defense tech modernization spending globally, as incrementally positive for DRS, the analyst tells investors.