By Sam Boughedda
Investing.com — BAE Systems PLC (LON:BAES) continues to add to its list of U.S. military contracts after the company was awarded a contract worth $154.11 million by the Navy two weeks ago,
The most significant — revealed on Wednesday — is a $478 million contract for systems engineering and integration services.
BAE shares were trading flat in Thursday's session.
The five-year contract, awarded in September, has BAE supporting the U.S. Navy Strategic Systems Programs.
Meanwhile, the U.K.-based defense business told investors today that it has received a $26 million contract to equip the U.S. Navy's Constellation class frigates with the fully-automatic 57mm Mk 110 naval gun.
The contract, awarded earlier this month, includes engineering support and calls for 2 Mk 110s for the USS Constellation and USS Congress.
In mid-October, analyst Aymeric Poulain at financial research firm Kepler Cheuvreux initiated coverage of BAE with a buy rating at 670p price target. The company's shares are currently trading around the 555p level.