2024-05-06 14:45:01 ET
Summary
- Saab AB is experiencing strong demand for its products, leading to a significant increase in its backlog.
- The company's earnings have grown by double-digits, with sales growth exceeding expectations.
- The current defense landscape and stock price suggest there is still potential for further upside for investors to buy Saab AB stock.
A year ago, I initiated coverage for Saab AB (publ) with a Buy rating, as I believed the company had strong upside potential driven by expanding defense budgets. Moreover, contrary to many other defense contractors, Saab was already seeing increased demand translating to sales, and I believed that underappreciated stocks of European defense contractors provided compelling upside. A year ago, I put a price target of $72.50, representing more than 25% upside....
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Saab AB Stock Remains A Buy On Defense Budget Surge