V2X, Inc. (NYSE:VVX) is one of the undervalued aerospace and defense stocks to buy. On May 5, analysts at Truist Securities reiterated a Hold rating on V2X, Inc. (NYSE:VVX) and hiked the price target to $70 from $68.
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The price target hikes come on the heels of the company delivering impressive first-quarter results and hiking guidance due to incremental work in national security, Middle East operations, and T-6 programs. In the first quarter, V2X achieved $1.53 in earnings per share, up 55% year over year and better than the $1.24 a share expected. Revenue was up 23% year-over-year to $1.25 billion, better than the $1.13 billion expected.
The better-than-expected results came as the company secured 50 awards in the quarter, totaling $4.1 billion, and bringing the total backlog to $13.8 billion. Consequently, V2X management increased the full-year outlook in line with the momentum.
Full-year revenue is expected to range between $4.825 billion and $4.975 billion, up from the previous guidance of $4.675 billion to $4.825 billion. The company also expects diluted earnings per share of between $5.75 and $6.15, up from its previous guidance of $5.50 to $5.90.
V2X, Inc. (NYSE:VVX) Inc. is a leading provider of critical mission support and integrated solutions for defense, national security, and international clients. The company provides services across the entire mission lifecycle—preparation, operations, and sustainment.
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