Followers | 145 |
Posts | 27561 |
Boards Moderated | 3 |
Alias Born | 02/07/2004 |
Tuesday, May 01, 2007 7:54:01 AM
UBS raised its target price for the share to $51 from $36
Shira Horesh 1 May 07 13:23
UBS has upgraded its recommendation for Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) to “Buy 2” from “Neutral” and raised its target price from $36 to $51, 25% above its current price on Nasdaq.
UBS notes, “Last week, Elbit successfully tendered for 53% of the Tadiran Communications Ltd. (TASE: TDCM) shares that it did not own. While shares are up significantly since the tender offer began, we believe that with synergies and cost savings from a consolidated sector that there is still room for substantial appreciation in the stock.”
UBS says, “Tadiran Communications’ product portfolio is complementary to Elbit’s, in our view, and we see cost synergies over time… Tadiran also has $310 million in cash on hand, so we assume essentially neutral financing from an operating perspective given the $380 million spent on the shares not already owned. Elbit has now consolidated the non-government defense sector in Israel. We believe that R&D and general and administrative savings will start to appear in the second half of 2007 and 2008 as Elbit integrates the businesses under its control.”
UBS also raised its forecasts for Elbit Systems to $2.38 earnings per share in 2007 on $1.9 billion revenue, and $3 earnings per share on $2.01 billion revenue in 2008.
Published by Globes [online], Israel business news - www.globes.co.il - on May 1, 2007
Recent ESLT News
- Elbit Systems Awarded $37 Million Contract to Supply Iron Fist APS for Upgrading U.S. Army's Bradley IFVs • PR Newswire (US) • 05/05/2024 06:34:00 AM
- Elbit Systems Awarded Approximately $50 Million Contract for a New Air Defense System by an International Customer • PR Newswire (US) • 04/30/2024 06:55:00 AM
- Elbit Systems Announces a Postponement of its Extraordinary General Meeting of Shareholders • PR Newswire (US) • 04/17/2024 05:55:00 PM
- Elbit Systems Announces Amendment to the Company's Proxy Statement • PR Newswire (US) • 04/01/2024 08:38:00 AM
- Elbit Systems Announces the Filing of its Annual Report on Form 20-F for Fiscal Year 2023 • PR Newswire (US) • 03/28/2024 12:34:00 PM
- U.S. Index Futures on the Rise, Oil Prices Show Stability • IH Market News • 03/26/2024 11:21:42 AM
- ELBIT SYSTEMS REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS • PR Newswire (US) • 03/26/2024 08:39:00 AM
- Elbit Systems Awarded Approximately $300 Million Contract to Supply Defense Solutions for an International Customer • PR Newswire (US) • 03/25/2024 09:24:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 03/05/2024 11:00:51 AM
- Elbit Systems Reports Impact on its Fourth Quarter 2023 Financial Results Due to Non-Cash Expenses • PR Newswire (US) • 03/05/2024 08:43:00 AM
- Collins Elbit Vision Systems delivers 3,000th F-35 Gen III Helmet Mounted Display System to the Joint Strike Fighter • PR Newswire (US) • 02/26/2024 02:00:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/26/2024 11:01:02 AM
- Elbit Systems Awarded an Approximately $600 Million Contract to Supply Systems for the Redback IFV Under the Australian Land 400 Phase 3 Project • PR Newswire (US) • 02/26/2024 08:23:00 AM
- Elbit Systems Schedules Fourth Quarter & Full Year 2023 Results Release for March 26, 2024 • PR Newswire (US) • 02/26/2024 08:06:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/21/2024 11:09:37 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/20/2024 11:02:50 AM
- Elbit Systems Awarded a $300 Million Contract to Supply Armored Vehicle Systems to a European Customer • PR Newswire (US) • 02/20/2024 07:33:00 AM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/14/2024 08:09:01 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 12/18/2023 11:03:51 AM
- Elbit Systems Awarded Contracts from the Israel Ministry Of Defense in an Aggregate Material Amount • PR Newswire (US) • 12/18/2023 09:06:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 11/29/2023 11:00:41 AM
- Elbit Systems of America Awarded an ID/IQ Contract With a Ceiling of $500 Million for the Supply of Squad Binocular Night Vision Goggles to the U.S. Marine Corps • PR Newswire (US) • 11/29/2023 07:05:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 11/28/2023 11:03:51 AM
- ELBIT SYSTEMS REPORTS THIRD QUARTER 2023 RESULTS • PR Newswire (US) • 11/28/2023 10:15:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 11/06/2023 11:00:51 AM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM