BAE Systems PLC

BA.: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	GBX 5,746.00	Txdd	Spmvbyp

BAE Systems: Increasing Fair Value Estimate on Improved Defense Spending Outlook

Loredana Muharremi

Aug 25, 2023

We are maintaining our wide moat rating and raising our fair value estimate for BAE Systems to GBX 1,170/$59 per share to reflect our outlook for higher defense spending over the medium term, programs moving toward full-rate production, and performance improvements.

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