BAE SYSTEMS Investment bank Execution Noble has upped its grading of the defence firm from "hold" to "buy". In a rosy assessment of sector prospects, Finmeccanica and Ultra Electronics maintained "buy" status. The bank sees today's situation as "very much like" the run-up to 1990's US congressional mid-terms. Then, defence stocks' value dropped 22% over one year, before big players' prices doubled or tripled between 1990 and 1996.
Source: Flight International