Boeing Stock ( NYSE:BA )
Wolfe Research analysts started covering aerospace and military businesses on Monday. One of the first companies they assessed was Boeing ( NYSE:BA ), giving it an Outperform rating to Boeing stock.
Other companies that have received an Outperform rating from the analyst are as follows: General Dynamics ( NYSE:GD ), Huntington Ingalls Industries ( NYSE:HII ), Northrop Grumman ( NYSE:NOC ), TransDigm Group ( NYSE:TDG ), Howmet Aerospace ( NYSE:HWM ), and Woodward (NASDAQ:WWD).
Since nations are purchasing more weapons amid crises like Russia’s invasion of Ukraine, Wolfe assigned a Market Overweight rating to the military sector. Additionally, defense companies are often safer investments during times of economic downturn.
According to Myles Walton, an analyst at Wolfe Research, “Defense is a place you want to be when budgets are increasing, and defense is a place you want to be into a recession…not it’s much more difficult.” This was said in the study.
The same factors contributing to the relative safety of military equities during economic downturns may hurt the companies that manufacture airplanes. Due to this factor, Wolfe assigned a Market Weight rating to the aerospace sector when considering the possibility that a sluggish global economy might reduce the d...
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