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Goldman warns these defense stocks could take a hit from Trump spending cuts

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Investment Strategy,Stock Markets,Booz Allen Hamilton Holding Corp

The firm said defense valuations are already high and forecasts that the U.S. defense budget will soon flatten out and then decline.

Shares of some aerospace and defense companies could fall under added pressure from President-elect Donald Trump's reduced government spending plans. Goldman is forecasting that the U.S. defense budget will soon flatten out and then decline, partly given that it's at an all-time high and that current geopolitical conflicts could potentially be met with a resolution.

Poponak maintained his sell ratings on Lockheed Martin , Northrop Grumman , L3Harris Technologies and Huntington Ingalls Industries . As of Monday, shares of these four names had taken a significant hit this month, with defense contractor Lockheed losing more than 13% and Huntington Ingalls plunging nearly 25% during this time.

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