Goldman Sachs names 4 global defense stocks to watch as geopolitical risks rise

Several countries have been beefing up their defense budgets in light of mounting geopolitical tensions, and Goldman Sachs has named several European stocks to play the theme right now. "We believe we are in the middle of a super-cycle in defense spending," the investment bank's analysts, led by Victor Allard, wrote in an April 9 note, adding that European defense spending in particular is expected to grow at a compound annual growth rate of 4.

Though Goldman is "cautious on valuations as we approach 2025" and "conclude that European defense stock valuations likely present more downside than upside risk at this juncture," the Wall Street bank still sees opportunities in several segments and stocks. Stocks Goldman's analysts said they "increasingly favour stocks exposed to long-term secular growth themes with superior visibility on growth.

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