Elbit Gains as Gaza Conflict Seen Fueling Defense Tech
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The conflict between Israel and Hamas is fueling speculation that Elbit Systems Ltd., the nation’s biggest listed developer of military technology, will see more government orders for its defense products.
U.S.-traded shares of the Haifa, Israel-based company have advanced 6.1 percent to $63.01 since fighting intensified on July 8, compared with a 2.3 percent gain on the Bloomberg Israel-US Index. The rally has pushed the stock close to the highest level since 2010 while its valuation on a price-to-earnings basis is near the most expensive in five years.