The proposal is mostly in line with our expectations, and our valuations haven't changed.
We are not changing our 2019 forecast, but there will be a 1% decrease in our fair value estimate.
This weekend's 737 MAX 8 crash injects more uncertainty into an already high uncertainty name.
Cash generation was the one weak spot in firm's results, and we view shares as slightly overvalued.
Shares of the wide-moat firm look cheap today.
Our sum-of-the-parts assessment surpasses our current fair value estimate.
Our projection for modest growth in the fiscal 2020 defense budget is now on shakier ground.
The wide-moat firm continues to execute and generate prodigious amounts of cash, but its shares look slightly overvalued.
We think the midterm elections could provide an investment opportunity as uncertainty rises beforehand.