Bernstein raises US defense firms PT on higher demand in 2026
Bernstein raises PT on U.S. defense firms on expectations of higher demand in 2026
Brokerage says while 2025 was volatile for defense with modest outperformance overall, 2026 sets up positively after President Donald Trump's post that he wants $1.5 trillion budget
Adds that L3Harris Technologies LHX.N remains its top choice
Bernstein says Russia threat has driven European stocks much higher, but has also helped U.S. stocks with rising export sales, which should continue
"The Office of Management and Budget (OMB) director Vought suggested we could see another large reconciliation package for 2027, which could help passage of an increase," brokerage says
Following are the new PTs:
Company Name | New PT | Old PT |
Lockheed Martin LMT.N | $586 | $545 |
L3Harris Technologies LHX.N | $398 | $369 |
Northrop Grumman NOC.N | $727 | $696 |
General Dynamic GD.N | $398 | $388 |
Huntington Ingalls HII.N | $412 | $362 |
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