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Key Points We’re raising our rating on shares of AVAV to Overweight, from Neutral, following last night’s announced win on a key Army contract. We believe the award improves visibility to FY25...
Key Points We’re reducing our rating on shares of NOC to Neutral from Overweight, after a respectable recent run in the shares. We’ve updated our forecast for the first time post 2Q,...
Key Points Debt and Louisiana project IRR concerns overblown, in our view. Underperformance relative to Linde excessive and unjustified Earnings and valuation accretion from growth projects underappreciated We rate APD shares Overweight with...
Key Points We’re raising our rating on shares of MRCY to Overweight post the firm’s 4QFY24 earnings report last week, and increasing our target price by USD20 to USD48. We’ve raised our...
Key Points Consensus 2024 earnings estimates undemanding, in our view. Macro trends could propel significant medium-term earnings growth Earnings power on the back of recent acquisitions still underappreciated. Valuation highly attractive on...