Market players are turning bullish on aerospace and defense, revealing their favorite stocks within the theme.
The war in Ukraine — now nearing its one-year anniversary — and the shooting down of an alleged Chinese surveillance balloon over the United States have once again brought geopolitical tensions to the fore. Countries across the world, including the U.S., Japan, India and South Korea, are hiking defense spending and revising their security protocols.
General Dynamics produces the M1A1 Abrams battle tanks that President Joe Biden announced last month would be delivered to Ukraine to enhance its "capacity to defend its territory and achieve its strategic objectives." The stock is rated "buy" by 67% of analysts covering it, who give it average upside of 15.7%. Morgan Stanley also believes now's a good time to buy defense stocks. Analyst Kristine Liwag wrote in a Jan.
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