On a weak day for the European stock exchanges, including Milan, Leonardo takes flight. Just over an hour after the opening of Piazza Affari, the share of the giant led by Alessandro Profumo gained 4,17 to 10,745 euros, after having reached a maximum of +4,46% to 10,775 euros.
To push the quotes is a report by Morgan Stanley which initiated the hedge with an "overweight" rating, indicating Leonardo as the top pick (preferred stock) among those in the Defense sector and bringing the target price to 13,3 euros.
Buy also by Equita, with a target price of 12,5 euros, which also highlights the positive consequences of theannouncement made last August 23 by the Canadian defense minister relating to the modernization and expansion of the Cormorant search and rescue helicopter fleet, the name given in Canada to Leonardo's AW101 helicopters used in the country. "If the signature arrives before the end of the year, it would represent 7% of the 2019 order collection target (being Leonardo prime contractor)", underlines Equita.
Not only that, according to the rumors of Banca Akros, Leonardo would be in pole position to win the flight trainer competition organized by the Spanish government. “This contract worth 225 million euros should be finalized shortly with the first deliveries expected in 2020. The contract includes 24 aircraft and 4 flight simulators”, underlines Banca Akros
