General Dynamics to build upgraded Abrams tanks in $4.6B contract
Dec. 23, 2020 10:39 AM ETGeneral Dynamics Corporation (GD)By: Carl Surran, SA News Editor1 Comment
Dec. 23, 2020 10:39 AM ETGeneral Dynamics Corporation (GD)By: Carl Surran, SA News Editor1 Comment
- General Dynamics (GD +1.2%) confirms it was awarded a $4.6B contract from the U.S. Army to build the latest iteration of the M1 Abrams battle tank.
- The newest version, known as the M1A2C or the M1A2 SEPV3, includes several improvements such as a gunner's sight and commander's sight for increased lethality and a 120mm cannon.
- At 71.2 tons, the tank is considered the most reliable Abrams tank ever produced and a platform for future modernizations.
- The Army intends to field more than 2,100 M1AC tanks through its Abrams Upgrade Program and the eight-year, single-bid contract with General Dynamics Land Systems.
- General Dynamics shares are "undervalued and cheap at current trading levels," Nick Schiavone writes in a bullish analysis published recently on Seeking Alpha.