Trump's DOGE department plans to cut expenses, Morgan Stanley is bearish on US defense stocks
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JP Morgan analysts pointed out that the DOGE department of the Trump administration plans to cut spending, leading to a greater risk of budget cuts for U.S. defense stocks in 2025. The analysts downgraded the valuations of companies such as Lockheed Martin, Raytheon Technologies, Northrop Grumman, and General Dynamics, and revised their price targets. Despite potential adverse factors, the outlook is not entirely pessimistic due to congressional support and global threats
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