0753 GMT - BAE Systems' 2024 results beat market expectations, J.P. Morgan analyst David Perry says. The British aerospace and defense group reported earnings per share 3% ahead of Vuma consensus, while its free cash flow was 890 million pounds above consensus, he says. The company's evolution in 2026 should become clearer in the coming months, once the U.S. administration tables its 2026 defense budget in April, and the U.K. government sets out its military spending plans, Perry notes. "We recommend the shares as a long-term holding; however, after an 11% rally in the last five days we don't expect a major reaction today," he adds. (cristina.gallardo@wsj.com)
(END) Dow Jones Newswires
February 19, 2025 02:53 ET (07:53 GMT)
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