0700 GMT - U.S. defense stocks such as Lockheed Martin, Northrop Grumman and RTX Corporation should get a boost from U.S. President Trump's plans to build a missile defense dome over the country, Citi analyst Jason Gursky says. U.S. defense companies have derated significantly since the presidential election in November due to uncertainty about potential cuts to defense spending but the Congress decided to add more than $300 billion in spending over the next 10 years, the analyst says. In addition, Europe's rising military budgets should help lift the stocks because U.S. manufacturers--particularly RTX, Lockheed Martin and General Dynamics--supply most of the military kit bought by European countries, Gursky says. (cristina.gallardo@wsj.com)
(END) Dow Jones Newswires
March 05, 2025 02:00 ET (07:00 GMT)
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