President-elect Donald Trump's pledge to make government more efficient may spell bad news for companies that are overly reliant on government contracts to boost profits. Trump announced last week that when he returns to office Elon Musk, Tesla CEO, and Vivek Ramaswamy, founder of Roivant Sciences , will lead a group called the Department of Government Efficiency aimed at cutting spending.
mountain Moderna and Pfizer, year to date Research and consulting firm Gartner was also included in the Morgan Stanley basket. The Stamford, Connecticut-based company is up 15% in 2024, trailing the S & P 500 but poised to advance for a 17th straight year. Still, the typical analyst surveyed by LSEG only has a hold rating on Gartner, with the consensus price target reflecting the potential 5% appreciation over the coming year.