Good Morning!  Is it possible to create a formula field for the contract object to show a field (text value) from the opportunity object, particularly a specific opportunity record?

Since our opportunity reflects the customer's contracts, I am trying to show the pricing model reflected on the contract detail on the account.  The pricing model field on the opportunity object is a pick list and I need to create a formula field to display this value.

We have a look up field to tie the opportunity to the contract, so this field would need to be the reference for the correct pricing model field to look for.  If anyone has an idea, please let me know :)