The attack shows the importance of short range protection and 'supports ongoing tailwinds for international military spending,' according to Jefferies
Raytheon could be the biggest corporate beneficiary of the Saudi oil attack, according to a Monday note from Sheila Kahyaoglu, an equity analyst at Jefferies. Saudi Arabia has the largest defense budget in the Middle East, and makes up 5% of Raytheon's sales. In addition, Raytheon sells the NASAMS, a key missile defense system that Saudi Arabia currently has under contract. Increased NASAMS sales to Saudi Arabia could specifically benefit Raytheon.
Raytheon could be the biggest corporate beneficiary of the Saudi oil attack, according to a Monday note from Sheila Kahyaoglu, an equity analyst at Jefferies. Saudi Arabia has the largest defense budget in the Middle East, and makes up 5% of Raytheon's sales. In addition, Raytheon sells the NASAMS, a key missile defense system that Saudi Arabia currently has under contract. Increased NASAMS sales to Saudi Arabia could specifically benefit Raytheon.
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