Goldman Sachs Upgrades the Defense Sector to Neutral

Goldman Sachs upgraded the Defense sector from Cautious to Neutral. The firm said with expectations very low, numbers reset, cash strong and a lack of negative catalysts near-term, Defense stocks could perform in line with the market or outperform if the macro is choppy. That said, Goldman said they are not bullish on the sector and expects the group may underperform again later in the DoD spending downturn.

The firm upgraded AeroVironment (Nasdaq: AVAV).

They remain Neutral-rated on FLIR Systems (Nasdaq: FLIR), Harris (NYSE: HRS) and Alliant TechSystems (ATK), and remain Sell-rated on Huntington Ingalls Industries (NYSE: HII)

They remain Neutral-rated on Lockheed Martin (NYSE: LMT), General Dynamics (NYSE: GD), and Raytheon (NYSE: RTN), and Sell-rated on Northrop Grumman (NYSE: NOC) and L-3 Communications (NYSE: LLL).

---

Discover Wall Street's best ratings calls with the pros - Upgrade to Ratings Insider Elite. Free Trial!

You May Also Be Interested In

• UPDATE: Williams Financial Group Upgrades Semtech Corp. (SMTC) to Buy; Check Again...Quarter Was Fairly Strong
• Macquarie Upgrades SBA Communications (SBAC) to Outperform
• Wells Fargo Upgrades Watson Pharmaceuticals (WPI) to Outperform; Actavis Acquisition Adds Growth Prospects

Create E-mail Alert Related Categories

Hot Upgrades, Upgrades

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?

Follow StreetInsider.com On Twitter