Elbit Systems Ltd. (Elbit Systems (ESLT)) shares got a nice boost in Monday's premarket trading after the company announced it had landed more than $370 million in contracts from U.S. Customs and Border Protection. The awards, given to Elbit Systems of America, a subsidiary of the Israeli defense firm, are expected to keep the company busy through May 2029.

The contracts underscore Elbit's role in U.S. border security, bringing its advanced surveillance and situational awareness technologies to the table. It's a big win for the company, and investors seem to agree — shares were up 2.74% in premarket action, trading at $761.87.

For context, Nasdaq futures were up 0.72% and S&P 500 futures gained 0.29%, so Elbit's move was notably stronger than the broader market.

Earnings and Analyst Outlook

Elbit is scheduled to report its second-quarter earnings on August 11, 2026. Wall Street is looking for earnings of $3.66 per share, up from $3.23 a year earlier. Revenue is expected to hit $2.23 billion, compared with $1.97 billion in the same quarter last year.

The stock trades at a hefty 59.9 times earnings, which is a premium valuation by any measure. That might explain why analysts are cautious. The consensus rating is Hold, with an average price target of $915. Here's what some key firms have been saying:

• Jefferies: Hold; lowered price target to $880 on June 24.
• JP Morgan: Neutral; raised price target to $950 on May 27.
• JP Morgan: Neutral; raised price target to $930 on April 13.

So analysts are generally neutral, but the price targets suggest some upside from current levels.

Technical Picture

Elbit's stock has been in a longer-term uptrend, but the near-term story is a bit more complicated. Shares are currently trading 8.6% above their 200-day simple moving average of $701.38, which is a positive sign. However, they've pulled back from a 52-week high of $1,016.06 reached in March.

The stock is 4% below its 50-day SMA of $793.29 and 8.6% below its 100-day SMA of $833.61, suggesting there's some overhead resistance to contend with. Momentum has also weakened — the MACD is below its signal line, and the histogram is negative, indicating that buying pressure has faded in recent weeks.

On a more granular level, shares are trading just below their 20-day exponential moving average of $763.87 but slightly above the 20-day SMA of $757.69. A sustained move above the 20-day EMA could improve short-term sentiment, and reclaiming the 50-day SMA would strengthen the intermediate-term outlook.

Key levels to watch:

• Resistance: $821.50, with additional resistance near the 50-day SMA at $793.29.
• Support: $710.00, close to the 200-day EMA of $711.55 and the 200-day SMA of $701.38.

So while the long-term trend is intact, the stock has some work to do to regain its momentum. The contract wins could provide a catalyst, but the market will be watching the earnings report in August for more clues.