Noble Financial Keeps Buy Rating, $72 Price Target on V2X Inc. (VVX)

V2X, Inc. (NYSE:VVX) is among the 8 Best Small-Cap Defense Stocks to Buy Right Now. On November 13, Noble Financial analyst Joe Gomes reiterated a Buy rating on the stock with a share price target of $72.

Stock market data showing an upward trajectory. Photo by Burak The Weekender on Pexels

The adjustment follows the company’s third-quarter earnings results on November 3, in which it reported record revenue and comfortably beat earnings estimates. Noble’s price target reflects an upside potential of 33% from the stock’s closing price on November 14.

This note follows post-earnings revision notes from Truist and Stifel earlier in the month, which saw both firms maintain a Buy rating on V2X, Inc. (NYSE:VVX), while raising their price targets to $65 each, up from $58 and $63, respectively.

The company reported revenue of $1.17 billion, up 8% from the prior year. The management credited the growth to the Warfighter-Training Readiness Solutions, Iraq F-16, and F-5 programs. Adjusted EBITDA stood at $85.2 million, with a margin of 7.3%. Adjusted diluted EPS was at $1.37, up 6% year-over-year, and beating estimates by 14 cents.

V2X, Inc. (NYSE:VVX) received $1.4 billion in net bookings during the quarter. It ended the period with a total backlog of $11.6 billion, exclusive of the $4 billion under-protest T-6 contract. Moreover, the company stated that the government shutdown’s impact on these awards was modest.

However, management lowered its full-year adjusted operating cash flow guidance to account for likely delays from the shutdown, while raising the midpoints of its outlook on revenue, adjusted EBITDA, and adjusted diluted EPS.

V2X, Inc. (NYSE:VVX) is a leading provider of critical mission solutions and support services to defense clients across 47 countries and territories.

READ NEXT: 13 Most Undervalued Stocks Under $20 to Buy and ChatGPT Stock Advice: Top 8 Defense Stocks

Disclosure: None.