US Defense 2024: Promising Triad Of Geopolitical Tensions, Budget Growth And Uncaptured Buyback Potential

DanielBendjy I like the US Defense Primes (GD, LMT, NOC) for 2024 due to further growing US defense budgets and relative undervaluation vs the broader market. Current global conflicts and a 9% in the US defense budget should spur demand for both placement of new orders and procurement of replacements and ammunitions while recently launched platforms (F-35, B-21, Virginia-Class) provide multi-year earnings visibility for the Primes. With the Fed's hinting at a soft landing, defense has underperformed in 2023 ...