Leonardo S.p.A ($LDO.MI)
Global defense prime with accelerating fundamentals trading at a ~20% FCF yield.
Investment Thesis Summary
I believe that an investment in the common shares of Leonardo S.p.A. (trading in Milan, ticker: $LDO.MI) is compelling for the following reasons:
An improved backdrop for defense spending is set to drive an acceleration in revenue and earnings for Leonardo over the next 3+ years.
Free cash flow …
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