Leonardo gains nearly 2% in Milan as UBS confirms its 'Neutral' recommendation on the stock this morning, while raising its target price from 10.55 to 16.3 euros.

' We are raising our target to 16.3 E but reiterating our Neutral position as we believe that Leonardo's valuation, after having risen from around 6.0x P/E 2024 to around 9.8x this year, now largely reflects the growth opportunities we see in Helicopters & MBDA in particular ' justifies UBS.

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