0939 GMT - Leonardo DRS, a U.S. subsidiary of Italian aerospace and defense group Leonardo, should continue to report increasing sales this year, JP Morgan analysts say. The company significantly beat its top-line expectations in 2024, with international sales growing much faster than U.S. sales, they say. Most of the company's international sales relate to sensing and computing equipment to help armed forces make quicker decisions on the battlefield, but over time DRS could receive a higher number of orders for counter drones and short-range air defense systems, the analysts say. The company ended 2024 with about $600 million of cash, implying it could continue to return at least $135 million to shareholders each year, a level described by the analysts as quite reasonable. DRS could also continue pursuing mergers and acquisition deals, they add. (cristina.gallardo@wsj.com)
(END) Dow Jones Newswires
February 21, 2025 04:39 ET (09:39 GMT)
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