Leonardo initiated with a Buy at Jefferies

Jefferies initiated coverage of Leonardo (FINMY) with a Buy rating and EUR 52 price target The firm sees a “new paradigm” in European defense amid heightened pressure to spend more. This has been triggered by the risk of the U.S. removing support to Ukraine in the ongoing war and also the perception of its protection granted to Europe being at risk, especially in the context of a potential conflict with Russia, the analyst tells investors in a research note.