Why Elbit Systems (TASE:ESLT) Is Up 5.9% After Greece Backs Funding For PULS Rocket Deal

• In December 2025, Elbit Systems Ltd. reported that the Hellenic Parliament and KYSEA had approved budget funding for Greece to purchase its PULS rocket artillery system, with a materially significant contract still dependent on concluding commercial negotiations with the Hellenic Ministry of National Defense.
• This prospective deal highlights the appeal of PULS as a flexible launcher that can use multiple types of munitions and integrate with existing military vehicle fleets, potentially lowering operating and training costs for the Hellenic Armed Forces.
• We will now examine how this potential, material PULS contract with Greece shapes Elbit Systems’ broader investment narrative and risk profile.

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What Is Elbit Systems' Investment Narrative?

To stay comfortable as a shareholder in Elbit Systems, you really have to believe in its ability to keep converting a growing backlog and solid earnings momentum into long-term, contract-driven cash flows, even at a relatively rich valuation. The Greece PULS budget approval feeds directly into that story: it reinforces Elbit’s positioning in advanced artillery and could become a meaningful short term catalyst if negotiations translate into a signed, “material” contract and visible backlog uplift. At the same time, with the share price already up strongly this year and trading above some formal fair value estimates, expectations are not low, so any delay or scaling back of the Greek deal could matter more for sentiment than the absolute profit impact. In other words, the PULS news sharpens both the upside optionality and the execution risk around new programs.

However, investors should also weigh how much is already priced in if the Greek PULS deal slips. Elbit Systems' shares are on the way up, but could they be overextended? Uncover how much higher they are than fair value.

Exploring Other Perspectives

Nine Simply Wall St Community valuations span roughly ₪1,100 to a very large ₪12,476 per share, underlining how far apart private investors can be on Elbit’s worth. Set against that wide dispersion, the potential Greek PULS contract becomes a key point of tension between optimism on future contracts and concern that current pricing already reflects a lot of good news.

Explore 9 other fair value estimates on Elbit Systems - why the stock might be worth 37% less than the current price!

Build Your Own Elbit Systems Narrative

Disagree with this assessment? Create your own narrative in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Elbit Systems research is our analysis highlighting 2 key rewards that could impact your investment decision.
• Our free Elbit Systems research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Elbit Systems' overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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