Elbit Systems Stock Pulls Back in Tel Aviv
Elbit Systems shares fell 2.9% in Tel Aviv midday Monday, paring last week’s gains after record Q1 revenue and a $350 million tank-upgrade contract. The TA-125 index dropped 1.5%. Elbit’s order backlog reached $30.2 billion, with 71% from outside Israel. The stock remains up 11% over five sessions but trades at a high price-to-earnings ratio near 71.