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Stifel Nicolaus says defense stocks are near a bottom and looking like attractive long-term...
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Tuesday, June 26, 2012, 10:59 AM ETStifel Nicolaus says defense stocks are near a bottom and looking like attractive long-term opportunities. The firm resumes coverage on Raytheon (RTN +0.1%) with a Buy, saying its international business, 3.6% dividend yield and relatively undersized exposure to big ticket items make it more attractive than its peers. It also starts Lockheed Martin (LMT -0.1%), General Dynamics (GD -0.6%), Northrop Grumman (NOC -0.8%) and L-3 Communications (LLL -1.2%) with a Hold, saying they still need to come in a bit more.
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