Investors should expect a new middle-of-the-market plane in the next 12 to 18 months to compete with Airbus' superior--and more popular--narrow-body offerings.
The industrials sector had a bumpy start to 2016, but the near- to midterm outlook remains positive, and we see value in some names.
The DoD's latest budget request is broadly positive for our defense coverage.
Conservative assumptions for growth, margins, and cash flow lead us to conclude that the sell-off is overdone.
A massive commercial aircraft backlog provides visibility in uncertain times.