
Monday, July 23, 2007 10:21:32 AM
Hapoalim cuts Elbit Systems
"Revenue will grow this year but profitability will be harmed."
Adi Ben Israel 23 Jul 07 13:15
In advance of the company's second quarter financials, Bank Hapoalim has cut its recommendation for Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) to "Market Perform" from "Outperform" and set a target price of $45, 4.5% over the company's current market price. Bank Hapoalim believes that Elbit Systems' revenue has grown in the second quarter, and that its orders backlog is at a record level, but fears that its profitability will remain low.
"We feel that the bottleneck in Elbit Systems' activity is its low profit margins," Bank Hapoalim says. "The company's profitability in 2007 could be harmed as a result of the crisis at Elisra and currency appreciation. Financing costs will increase as a result of the taking of credit to finance the acquisition of Tadiran Communications, as well as the appreciation of the shekel."
Bank Hapoalim believes that while a strong orders backlog will ensure further revenue growth for Elbit Systems this year, the labor dispute at Elisra and the shekel appreciation are likely to harm profitability. "Elbit Systems' revenue for 2007 will total $1.85 billion, with net profit coming in at just $82.4 million (excluding one-time amortizations)," it predicts.
Published by Globes [online], Israel business news - www.globes.co.il - on July 23, 2007
Recent ESLT News
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 11/19/2024 11:01:37 AM
- ELBIT SYSTEMS REPORTS THIRD QUARTER 2024 RESULTS • PR Newswire (US) • 11/19/2024 08:22:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 11/18/2024 11:01:24 AM
- Elbit Systems Awarded Contracts Worth Approximately $335 Million to Supply Defense Systems to a European Country • PR Newswire (US) • 11/18/2024 08:47:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 11/05/2024 11:00:54 AM
- Elbit Systems Awarded $127 Million Contract to Supply Iron Fist APS for Upgrading U.S. Army's Bradley IFVs • PR Newswire (US) • 11/05/2024 07:14:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 10/29/2024 10:00:38 AM
- Elbit Systems Schedules Third Quarter 2024 Results Release For November 19, 2024 • PR Newswire (US) • 10/29/2024 07:40:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 10/28/2024 10:00:48 AM
- Elbit Systems Awarded Approximately $200 Million Contract by the Israeli MOD to Supply High-Power Laser for the "Iron Beam" Air Defense System • PR Newswire (US) • 10/28/2024 07:43:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 09/20/2024 10:01:44 AM
- Elbit Systems Announces the Results of its Annual General Meeting of Shareholders Held on September 19, 2024 • PR Newswire (US) • 09/20/2024 07:01:00 AM
- Gabelli Funds to Host 30th Annual Aerospace & Defense Symposium at The Harvard Club, New York City Thursday, September 5, 2024 • GlobeNewswire Inc. • 09/04/2024 12:00:00 PM
- Gabelli Funds to Host 30th Annual Aerospace & Defense Symposium at The Harvard Club, New York City Thursday, September 5, 2024 • GlobeNewswire Inc. • 08/28/2024 12:00:00 PM
- Gabelli Funds to Host 30th Annual Aerospace & Defense Symposium at The Harvard Club, New York City • GlobeNewswire Inc. • 08/26/2024 12:00:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/15/2024 10:01:29 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/14/2024 10:02:15 AM
- ELBIT SYSTEMS REPORTS SECOND QUARTER 2024 RESULTS • PR Newswire (US) • 08/14/2024 07:31:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/08/2024 10:01:07 AM
- Elbit Systems Awarded $130 Million Contract to Supply Iron Fist APS to BAE Systems Hägglunds for a European Country • PR Newswire (US) • 08/08/2024 07:17:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/06/2024 10:00:55 AM
- Elbit Systems Awarded Approximately $270 Million Contract to Supply Rocket Artillery for an International Customer • PR Newswire (US) • 08/06/2024 06:26:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/01/2024 10:00:34 AM
- Elbit Systems Awarded a Contract of Approximately $340 Million for the Supply of Ammunition to the Israeli Ministry of Defense • PR Newswire (US) • 08/01/2024 06:21:00 AM
- Gabelli Funds to Host 30th Annual Aerospace & Defense Symposium at The Harvard Club, New York City Thursday, September 5, 2024 • GlobeNewswire Inc. • 07/30/2024 08:00:34 PM
COEPTIS Announces the Launch of COEP Venture Group to Invest in AI, RPA, and AI Agent Startups • COEP • Feb 13, 2025 9:10 AM
Unitronix Corp. to Report Over 300% Gains in Cryptocurrency Assets • UTRX • Feb 13, 2025 7:15 AM
Hivello Token ($HVLO) now Live • MATE • Feb 11, 2025 9:27 AM
Animoca Brands leads Hivello funding round ahead of Token Listing • MATEF • Feb 10, 2025 10:20 AM
51 Labs Expands Sports Nutrition Line with Five New Innovative Products, Company in final phase of name and ticker symbol change • CAFI • Feb 10, 2025 9:00 AM
UAV Corp. Expanding in the Global UAV Market, Projected to Exceed $58 Billion by 2027, with Increasing Government and Commercial Sector Adoption • UMAV • Feb 6, 2025 8:30 AM