Leonardo: I Believe The 'Peak' Is Here In 2026E

2026-02-11 07:35:08 ET

Leonardo S.p.a. ( FINMY ) used to be one of my favorite companies to invest in for undervaluation. The company was of high quality, had incredibly resilient contracts with a good long-term appeal. It was further complemented by a strong civil segment. In many ways, it reminded me of my investments in Rheinmetall and similar European defense businesses. What they all had going for them was that they were leading defense contractors when the defense segment went into a long-term slumber after the onset of the post-Cold War peace in Europe....

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