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Sunday, April 12, 2015

Israeli Drone Maker Has $6 Billion Backlog and a Red-Hot Stock

Hermes 900 UASU.S. military spending may be flat, but that’s not proving to be much of a problem for Israeli defense company Elbit Systems Ltd.

That’s because the company, while long dependent on the U.S. for much of its sales, has been shifting its focus to faster growing markets in Asia and Latin America.

Elbit said last month that demand from those regions helped push up its backlog of orders to $6.3 billion at year-end, an 8 percent jump from 2013. The stock has rallied 13 percent since, touching a record $74.55 in New York on April 7.

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