V2X

VVX · NYSE

$70.08+$0.50 (+0.72%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $69.58

VVX analyst rating

HoldConsensus of 12 analysts over the last 12 months. 42% rate it a buy.

Strong buy0
Buy5
Hold6
Underperform0
Sell1

12-month price target · 12 analysts

Average $90.97 (+29.8% upside)

Low: $70.70
Now: $70.08
High: $107.10

Upgrades and downgrades

The latest rating actions, newest first

VVX analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Truist Securities	Aug 4, 2026	Maintains	Hold	$70.00 → $85.00	61%
Morgan Stanley	Aug 4, 2026	Maintains	Equal-Weight	$80.00 → $90.00	61%
Baird	Aug 4, 2026	Downgrade	Outperform → Neutral	$94.00	69%
Citizens	Jul 28, 2026	Maintains	Market Outperform	$90.00 → $102.00	61%
Citigroup	Jul 1, 2026	Maintains	Neutral	$72.00 → $75.00	27%
Raymond James	Jun 24, 2026	Downgrade	Outperform → Market Perform	—	57%
B of A Securities	May 29, 2026	Maintains	Buy	$78.00 → $93.00	58%
BTIG	May 27, 2026	Maintains	Buy	$90.00	32%
Morgan Stanley	May 5, 2026	Maintains	Equal-Weight	$74.00 → $80.00	61%
RBC Capital	May 5, 2026	Maintains	Sector Perform	$70.00 → $75.00	59%

The case for and against

Updated Oct 15, 2026

Bull case

V2X is attractive because its backlog and bookings provide unusually strong revenue visibility, with a record $13.8B backlog, a 3.1x backlog-to-2025 sales ratio, and $4.1B in bookings that support ~94% revenue viability for 2026. The company is also showing accelerating operating momentum, as F1Q26 revenue rose 23% year over year to $1.25B, adjusted EBITDA reached $85.6M, and management lifted full-year guidance while continuing to benefit from rapid cash conversion in logistics work and a net leverage ratio of 2.2x at the end of 2025. Longer term, upside can come from margin-accretive hardware growth, AI-driven efficiency gains, and expanding DoW-aligned capabilities in C-UAS, electronic warfare, and modernization, all of which strengthen its strategic position and valuation case.

Bear case

V2X is facing a deteriorating fundamental setup because Kuwait exposure is already shrinking, with LOGCAP V scope potentially reduced and Kuwait-related revenue down about 21% to roughly $93mn in 1Q26, or 7.8% of sales, after worksite access disruptions limited revenue recognition. Its push toward more fixed-price work may improve contract visibility, but the company is still constrained by contracting capacity, heightened execution demands, and the risk that federal budget priorities, security-clearance dependence, and labor availability undermine growth. Even with a 10x EV/EBITDA valuation framework on 2026 estimates, the stock remains vulnerable because its government-contractor model carries meaningful funding, margin, and interest-rate risk, while M&A integration and liquidity issues add further downside pressure.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.