Leonardo's Portfolio, Savings Potential Make it Top Pick in European Defense
Dow Jones11-10 15:58
0758 GMT - Leonardo's portfolio and further room for cost savings make it J.P. Morgan's top pick in Europe's defense sector, the bank says in a research note. The Italian company's product portfolio has exposure to fast-growing segments that position it well for multiyear growth, while Ebita margins could get a boost from additional savings and efficiencies, according to JPM analysts. They expect Leonardo's new CEO Lorenzo Mariani to present more ambitious savings and margin targets when he lays out his industrial plan in March.
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