Leonardo DRS upgraded to Buy from Neutral at BofA

BofA analyst Ronald Epstein upgraded Leonardo DRS (DRS) to Buy from Neutral with an unchanged price target of $40. The firm, which thinks the renewed emphasis on shipbuilding coupled with continued strong defense tech modernization spend globally is incrementally positive for Leonardo DRS, expects the Columbia-class submarine to continue to be well funded and support mid-to-high single digit growth at Integrated Mission Systems.