Elbit (ELST) Initiated with Buy Rating from BofA, Backed by Global Defense Boom

Elbit Systems Ltd. (NASDAQ:ESLT) is one of the best military tech stocks to buy now. On July 24, Elbit Systems Ltd. (NASDAQ:ESLT) was initiated with a Buy rating by BofA analyst Ronald Epstein, who set a price target of $500. With shares currently trading at $461.68, the target implies an upside of approximately 8.3%.

Epstein described Elbit as a “leader in defense technology and innovation,” citing its strategic role as a supplier to Western allies during a time of increasing global defense spending. The analyst believes the company is well-positioned to benefit from what he calls a broad-based “global defense re-armament”, driven by geopolitical uncertainty and rising national security budgets.

While Elbit trades at a premium compared to large U.S. defense contractors, BofA views the valuation as reasonable when measured against small- to mid-cap defense peers in the U.S. and Europe. The firm also highlighted Elbit’s expanding international customer base, particularly in NATO-aligned countries, as a key advantage. Elbit’s diversified portfolio,  including unmanned systems, advanced optics, and electronic warfare, allows it to stay aligned with modern military priorities while remaining agile in responding to rapid changes in defense needs.

Elbit designs and supplies advanced defense electronics, drones, and surveillance systems for military forces worldwide.

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Disclosure: None.