Defense stocks' multiple expansions to continue, Buckingham analyst says [Seeking Alpha]
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Source: Seeking Alpha
Defense stocks' multiple expansions to continue, Buckingham analyst says - Harris Corporation (NYSE:HRS) | Seeking Alpha Defense stocks' multiple expansions to continue, Buckingham analyst says Jun. 3, 2019 3:49 PM ET | Harris Corporation (HRS) Carl Surran The expansion in multiples of U.S. defense stocks likely will continue, Buckingham analyst Richard Safran says, adding that the threat posed by D.C. politics may be overblown. Safran says the market may be ignoring macro factors that favor the sector, including continued demand for defense products driving government spending above expectations, a declining 10-year yield making corporate dividends more attractive, and trade fears sparking a flight-to-safety move. However, the "toxic" political environment and the potential that FY 2020 may begin with a continuing resolution are working against the defense names, Safran says. Buckingham's favorite names in the sector are Lockheed Martin ( LMT +1.4% NOC +0.7% RTN +1% Click to subscr
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