BofA: Italian Defense Group Leonardo SpA to Deliver 'Strong Execution' in Q4'25

08:48 AM EST, 01/05/2026 (MT Newswires) -- BofA Global Research forecasts Leonardo SpA (LDO.MI) to report 6.06 billion euros in revenue for the fourth quarter of 2025 on expectations that it will deliver another quarter of "strong execution," particularly at its electronics Europe and helicopters divisions. "Aircraft orders should remain robust, supported by the C-27J logistics contract for the Italian Air Force and 12 M-346 units for Austria," the research firm said in a Monday preview note, anticipating 6.1 billion euros worth of orders in the quarter. "Leonardo stands out as a highly idiosyncratic story in 2026, with near-term catalysts including the Aerostructures partnership and the Industrial Plan update on March 12th. Valuation remains attractive at ~9.5x EV/EBIT 2028E vs the sector at ~12x." The stock's rating was maintained at buy, while the price target was trimmed to 62.60 euros from 63 euros, taking into consideration currency movements and profitability related to the Italian defense group's ATR joint venture. Analysts also reduced their operating profit estimates for the 2025 to 2028 period and nudged down their 2027 EPS projection to 3.09 euros from 3.10 euros.