Report by 280First

By utilising AI, NLP, data analytics and qualitative analyst oversight, 280First can glean material and actionable insights on companies which will be missed by most institutional investors. Recent highlights include: 1) Lockheed Martin - changing expectations for future aircraft delivery; LMT’s 2023 10K no longer references its previously expected 156 per year delivery rate. 2) Adobe - brighter capital resources outlook. Acquisitions planned? 3) Alphabet - higher expectations for operating margin trend. 4) Comcast - concerns on multichannel video provider agreements. 5) Mondelez - losing shelf space due to disputes. Delay / unable to raise prices. 6) Sysco - dialling back growth expectations.

€180bn bare minimum required to re-equip European armies to a standard necessary to provide credible deterrence against Russia - Agency Partners’ 31-page report explores this ‘rearmament crisis’ and which companies are best placed to benefit. Despite recent share price rises throughout the sector they still see a lot of valuation upside in European large caps. Preferred stocks include BAE Systems, Leonardo, Lockheed Martin and Rheinmetall. While European mid caps have fuller valuations, they offer much faster gearing to increased defence spending from short cycle businesses. Top picks include Saab and Babcock.