Elbit Systems Ltd (NASDAQ: ESLT) said this week it had secured a contract worth nearly $300 million to supply defense solutions to an international customer.
The contract will be performed over a 10-year period, Elbit Systems added.
“This contract further validates our position as a global leader in defense technology, delivering advanced solutions that address the requirements of the modern battlefield,” Bezhalel (Butzi) Machlis, President and Chief Executive Officer of Elbit Systems, said in a press release.
Stock Performance
The shares of Elbit Systems Ltd (ESLT) closed 0.44% ($0.92) lower at $210.23 on Nasdaq on Thursday, as they snapped a three-day streak of gains.
The advanced technology company’s total market cap now stands at $9.348 billion.
The shares of Elbit Systems Ltd (ESLT) went up 29.99% in 2023, compared with a 43.42% gain for the benchmark index, Nasdaq Composite (IXIC).
The company’s shares have retreated 1.42% so far this year.
Analyst stock price forecast and recommendation
According to the Wall Street Journal, at least 2 surveyed investment analysts had rated Elbit Systems Ltd’s stock as “Buy”, while 1 – as “Hold”. The median price target on the stock stands at $238.41, which translates into a 13.40% upside compared to the closing price on Thursday.
The high point of the analyst forecast range stands at $261.00.
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