JPMorgan likes this missile and aircraft systems maker. Here's why

JPMorgan says it likes Moog, a maker of missile and aircraft systems, citing expectations for a multi-year turnaround and resilient growth. The bank initiated coverage on Moog and rated it overweight, setting a $520 price target that implies 32% upside from Friday’s close. In a note to clients, analyst Tomohiko Sano tied the view to manufacturing changes, not marketing, and argued Moog’s revenue streams span long-lifecycle platforms with exposure to missile replacement, commercial aerospace, industrial automation and AI-driven infrastructure building. Moog designs and manufactures precision steering controls used in multiple missile programs, including PAC-3, THAAD and Tomahawk. JPMorgan added that missile production rates are projected to double or quadruple, supporting expectations for stock gains. The bank also pointed to benefits from Boeing and Airbus commercial aircraft backlogs and U.S. spending on fighter jets such as the F-35 and tactical transport aircraft like the MV-75. Shares were reported up 61% year to date, aligning with Street consensus.