Leonardo DRS (DRS) Sings a MOI With KSA’s Ministry of Defense

​Leonardo DRS, Inc. (NASDAQ:DRS) is one of the Best Aerospace Stocks to Buy According to Analysts. On December 8, Leonardo DRS, Inc. (NASDAQ:DRS) announced signing a Memorandum of Intent with the Kingdom of Saudi Arabia’s Ministry of Defense to explore opportunities for MOD ground combat vehicles and dismounted forces.

​The MOI follows the announcement of the United States of America’s Strategic Defense Agreement with Saudi Arabia. As part of this agreement, Leonardo DRS, Inc. (NASDAQ:DRS) will collaborate with the country in supporting its Vision 2030 defense modernization roadmap. The MOI includes establishing high-performance battle management systems to provide digital command-and-control tools, collaborating on providing advanced C6ISR solutions for units at the brigade level and below, and providing rugged vehicle computing hardware, Multi-Function Rugged Displays, among others.

​In addition to this, Wall Street also remains bullish on the stock. Recently, on December 5, Austin Moeller from Canaccord Genuity reiterated a Buy rating on the stock with a $50 price target. Earlier on December 4, Michael Ciramoli from Truist Financial also reiterated a Buy rating on the stock without disclosing any price targets.

​Leonardo DRS, Inc. (NASDAQ:DRS) designs, develops, and manufactures advanced defense technologies, including sensing, network computing, force protection, electric power, propulsion, and mission-critical systems for US national security and allies.

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Disclosure: None. This article is originally published at Insider Monkey.