BUZZ-Jefferies raises Elbit Systems PT on growing backlog, potential new contracts

Reuters03-23

** Jefferies lifts price target on U.S.-listed Israeli defense firm Elbit Systems ESLT.O to $1,035 from $690, maintains "hold" rating

** New PT represents an upside of 12.4% from the stock's last close

** Brokerage says co's strong momentum should continue, driven by a growing backlog and potential new contracts, with land systems leading growth on rising European demand

** Adds elevated geopolitical tensions should continue to underpin ESLT's global growth and drive earnings upside

** One of 5 brokerages rate the stock "strong buy", four "hold"; their median PT is $580 - data compiled by LSEG

** As of last close, stock had risen 59.4% YTD

(Reporting by Apratim Sarkar in Bengaluru)

((Apratim.Sarkar@thomsonreuters.com))

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