Share of defense companies like Raytheon and Northrop Grumman could keep rising as the U.S. government and its allies ship weapons to Ukraine.
Shares of major U.S. aerospace and defense companies, which have jumped since Russia launched its invasion of Ukraine last week, should continue to surge higher as global defense spending budgets increase in response to the conflict in Eastern Europe, analysts predict.government and its allies ship weapons to Ukraine.As the ongoing conflict between Russia and Ukraine wreaks havoc on financial markets, defense stocks are outperforming and Wall Street analysts say they’ll keep rising.
Defense stocks have widely soared in that time: Shares of Raytheon Technologies are up nearly 8%, General Dynamics 12%, Huntington Ingalls Industries 14%, Lockheed Martin 18% and Northrop Grumman 22%.
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