Barclays Maintains an 'Equalweight' on Elbit Systems (ESLT); Tough Trend Continues

Barclays maintains an 'Equalweight' on Elbit Systems (NASDAQ: ESLT) price target lowered from $55 to $50.

Barclays analyst says, "Strong trends in the US, Europe and Israel were slightly offset by a slowdown in other countries. Operating margin was lower than expected because of the mix of programs sold and lower margins at acquired businesses. Management believes margins should improve over the coming quarters as it will harbor the synergies and rationalize costs at acquired businesses. As a result, diluted EPS of $0.90 was below our $1.18."

"Our non-GAAP EPS for 2011e drops to $4.28 from $4.57 based on lower net income of $185mn from $197mn."

For more ratings news on Elbit Systems click here and for the rating history of Elbit Systems click here.

Shares of Elbit Systems closed at $41.79 yesterday.

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