Global geopolitical tensions have eased somewhat after the fragile ceasefire between Iran and Israel. While global markets breathed a sigh of relief, some defense stocks understandably fell.
That said, I believe global geopolitical tensions are now a structural story, with the U.S. continuing to closely watch Russia and China. Given the expectations, I find Lockheed Martin (LMT) stock a good buy. The stock is a play on rising global defense spending, trades at reasonable valuations, and its dividend yield has risen to almost 3% after the drawdown in the stock. Let’s discuss in detail.
