As previously reported, Benchmark analyst Josh Sullivan initiated coverage of Esco Technologies (ESE) with a Buy rating and $150 price target The firm cites positive fundamentals for the maker of highly engineered products for the Aerospace and Defense, Utility and RF testing markets given a growing naval submarine stealth technology franchise, growing maintenance demand for an aging utility system stressed by AI, and a testing segment rebounding from a trough with optionality in EMP production and electronic warfare, the analyst tells investors. The firm thinks Esco’s core offerings in Aerospace and Defense and electric transmission infrastructure remain “underappreciated at the current share price,” the analyst added.
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