News Formal

Citi makes the bull case for defense stocks and gives its favorite picks

  • 📰 CNBC
  • ⏱ Reading Time:
  • 25 sec. here
  • 13 min. at publisher
  • 📊 Quality Score:
  • News: 51%
  • Publisher: 72%

Breaking News: Investing News

Wall Street,Business,Markets

Wall Street is underestimating the growth potential of defense stocks, Citigroup believes.

Wall Street is under-appreciating the growth outlook for the defense sector, according to Citi. Witness the fact the SPDR S & P Aerospace and Defense ETF has risen about 6.1% year to date, lagging the S & P 500 's 9.6% gain. Nonetheless, Citi remains confident in "the bull case for defense." Fueled by "bdget gimmicks in D.C. and headlines in the media," many investors believe that U.S. defense spending has stopped growing, according to analyst Jason Gursky.

mountain Leidos Holdings over the last 12 months Citi is also bullish on Lockheed Martin . The prime contractor for the F-35 is a beneficiary of U.S. and rising European defense spending, according to Gursky. The analyst calculated European countries increased their defense spending by 13% year-over-year in 2023. Lockheed Martin's "emphasis on shareholder cash returns likely to continue," Gursky said.

mountain Science Applications International Corps. in 202

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Asian stocks drift after Wall Street closes another winning weekAsian stocks are mostly lower following the weekend release of weak China lending data.
Source: wjxt4 - 🏆 246. / 63 Read more »

Stock market today: Asian stocks drift after Wall Street closes another winning weekAsian stocks are mostly lower following the weekend release of weak China lending data. U.S. futures were mixed and oil prices fell. There were reports the Biden administration planning to raise tariffs on electric vehicles, semiconductors, solar equipment, and medical supplies imported from China. The S&P 500 rose 0.2% Friday.
Source: AP - 🏆 728. / 51 Read more »

Stock market today: Asian stocks drift after Wall Street closes another winning weekAsian stocks are mostly lower following the weekend release of weak China lending data.
Source: ksatnews - 🏆 442. / 53 Read more »

Stock market today: Global shares mixed after Wall Street's lull stretches to a 2nd dayWorld shares are mixed after Wall Street’s lull stretched into a second day.
Source: wjxt4 - 🏆 246. / 63 Read more »