BAE Systems Downgraded to Underperform by BofA Securities -- Market Talk

Dow Jones11-29

1017 GMT - BAE Systems was downgraded to underperform from neutral by BofA Securities. The bank said the creation of the Department of Government Efficiency, announced by U.S. President-elect Donald Trump, adds uncertainty, weighing on BAE's valuation. The bank's analysts say BAE will deliver among the lowest margin expansion in the sector, but note it remains a high-quality company with attractive capital allocation. In the medium term, BAE is well-positioned to benefit from focusing on the Indo-Pacific and the growing relevance of its space division, the analysts say. Shares are down 3.3% at 12.48 pounds. (cristina.gallardo@wsj.com)

(END) Dow Jones Newswires

November 29, 2024 05:17 ET (10:17 GMT)

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