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Our monthly Ice Best Buys Now are designed to highlight our teamâs three favourite, most timely Buys from our growing list of income-focused Ice recommendations, to help Fools build out their portfolios.
âBest Buys Nowâ Pick #1:
BAE Systems (LSE: BA.)
BAE Systems as well as the entire European defence shares has been consolidated for 6 months while the tailwind to increased defence expenditures amid rising geopolitical strife will continue for several years.
U.S. Army has awarded BAE a $440 million contract in September to produce additional Bradley Fighting Vehicles to replace the ones the government had already sent to Ukraine.
BAE Systems has lifted its full-year guidance following a significant increase in underlying sales and earnings for the first half of the year. For FY24, a 10%-12% surge in sales is projected.
Underlying earnings per share are expected to grow by 7% to 9%, up from the earlier guidance of 6% to 8%. Additionally, the company anticipates free cash flow exceeding £1.5bn, up from the previous target of more than £1.3bn.
CEO Charles Woodburn stated that the company will continue investing in new technologies, facilities, and human capital to maintain its record order backlog and help government customers stay ahead in an uncertain world.
âBest Buys Nowâ Pick #2:
Redacted
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The post Just released: our 3 top income-focused stocks to buy before October [PREMIUM PICKS] appeared first on The Motley Fool UK.
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The Motley Fool UK has recommended BAE Systems plc. Hayes Chan CFA owns shares of BAE Systems plc.