[Watch the Video] Global A&D Discussion: S&D Update, Ratings Changes & More

Research evidence excerpt

[Watch the Video] Global A&D Discussion: S&D Update, Ratings Changes & More

USA | Aerospace & Defense Electronics EquityJuneResearch7, 2026

[Watch the Video] Global A&D Discussion: S&D

Update, Ratings Changes & More

In this video of our weekly Global Aerospace & Defense Discussion hosted

by Jefferies US A&D analysts Sheila Kahyaoglu and Chloe Lemarie on

June 5, we discussed our Supply & Demand update, ratings changes

for RTX/LDOS/SARO/RDW/BKSY, takeaways from our Southern Californa

Defense Tour, and more. Chloe discussed AIR FP O&D and Beluga watch.

.

US A&D

RTX: Upgrade to Buy: In a Hot Section of the Market, RTX Now Taking Advantage•

LDOS: Downgrade to Hold: Sentiment Seeks a Clean Bill of Health•

Supply & Demand Update: Rip the Bandaid Off '26 Air Traffic, But Healed in '27+•

SARO: Downgrade to Hold: Sorry SARO, Softer Backdrop Brings Softer Multiples•

HON: HONA Investor Day Takes: A Fresh Look w/ Sales at 6-8%, EBIT at 9%, FCF at 10%•

SAIC: Quick Take: A Robust Margin on Tepid Organic Growth to Start the Year•

HAWK: Initiate at Hold: It's HawkEye, but with an Eagle Eye•

AVAV: Mgmt Meeting Takes: Laser Focused on Switching it Up To Serve Demand•

MRCY: Mgmt Meeting Takes: Riding Tailwinds at a High Rate of Production•

TDY: Mgmt Meeting Takes: Space for Defense to Run Sheila Kahyaoglu * | Equity Analyst•

VOYG: Mgmt Meeting Takes: Pipeline of Oppties Beyond The Stars +1 (212) 336-7216 | sheila.kahyaoglu@jefferies.com•

Anduril Mgmt Meeting Takes: A New Prime Has Entered The Chat Chloe Lemarie, CFA ^ | Equity Analyst•

JetZero Mgmt Mting Takes: Bringing Segmentation Opportunity to the Next Level +33 1 8665 6326 | clemarie@jefferies.com•

BKSY: Downgrade to Hold: Run-up In Shares Casts Some BlackSky Over the BlueSky Greg Konrad, CFA * | Equity Analyst•