Leonardo (OTCMKTS:FINMY) Shares Gap Up on Analyst Upgrade

Leonardo S.P.A. – Unsponsored ADR (OTCMKTS:FINMY) gapped up prior to trading on Wednesday after Citigroup upgraded the stock from a hold rating to a strong-buy rating. The stock had previously closed at $33.58, but opened at $36.16. Leonardo shares last traded at $36.22, with a volume of 13,717 shares trading hands.

Other research analysts have also issued research reports about the company. Barclays upgraded Leonardo from an “equal weight” rating to an “overweight” rating in a research report on Monday, March 9th. Jefferies Financial Group reiterated a “buy” rating on shares of Leonardo in a research report on Friday, January 30th. Finally, Deutsche Bank Aktiengesellschaft cut Leonardo from a “buy” rating to a “hold” rating in a report on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy”.

Leonardo Stock Down 1.0%

The company’s fifty day moving average price is $34.03 and its 200-day moving average price is $31.33.

About Leonardo

Leonardo S.p.A. is an Italy-based global aerospace, defence and security company that designs, manufactures and supports a broad range of products and systems for military, government and commercial customers. Its core activities span helicopters and fixed-wing aircraft, avionics and mission systems, air and naval defence electronics (including radars and sensors), cybersecurity and secure communications, as well as space systems and services. The company also provides systems integration, mission support, maintenance, repair and overhaul (MRO) and training services across its product lines.

The business traces its modern identity to the former Finmeccanica group and was rebranded as Leonardo in 2017, reflecting a strategic emphasis on technology, research and innovation.