Shares in Curtiss-Wright , which makes sensors, controls, subsystems and mission critical components for aircraft, have already climbed about 24% in 2023.
CW 1Y mountain Curtiss-Wright shares over the past year.
The "risk reward skews positive" on Curtiss-Wright shares, the Morgan Stanley analysts wrote in a Sunday note, upgrading the North Carolina manufacturer to overweight from equal weight.
"The Pivot to Growth continues and endmarket demand remains robust, positioning CW for underappreciated topline expansion," Morgan Stanley said, referring to management's strategy.
Curtiss-Wright's defense electronics business could grow at a 13% compounded annual rate through 2024 in light of heightened Defense Department outlays and reduced supply chain pressures, Morgan Stanley said.
Persons:
Glenn Curtiss, Wilbur, Orville Wright, Kristine Liwag, Morgan Stanley, Wright, Morgan, Curtiss, CNBC's Michael Bloom
Organizations:
Curtiss, Department
Locations:
Friday's, North Carolina