V2X initiated with an Underweight at Morgan Stanley

Morgan Stanley initiated coverage of V2X (VVX) with an Underweight rating and $51 price target The company’s core business of defense logistics offers notable revenue predictability, albeit at lower margins versus its government services peers, the analyst tells investors in a research note. The firm says that while V2X should prove more resilient to Department of Government Efficiency risk, significant earnings upside will be capped by U.S. foreign policy.