BAE Systems PLC (LSE:BA.) gave investors a tour of its Air division this week but stopped short of offering any new numbers to sharpen its long-term growth pitch.
That left Deutsche Bank reaffirming its Buy rating and 1,900p target, but noting that the update largely repeated themes from last week’s trading statement.
The presentation focused on BAE’s strengths in combat aircraft and drones, underpinned by a near-even split between hardware sales and long-term service contracts, a mix that helps smooth revenues over time.
The Air business is spread across four major regions, with the UK and Saudi Arabia each contributing a third, and the US and Europe making up the rest.
Key growth levers include export opportunities for up to 150 Eurofighter jets, deals with the Turkish and Qatari air forces, and expanding work on uncrewed systems and missile partnerships via MBDA.
But without firmer timelines or contract wins, investors were left waiting for something more concrete.
In the morning session, the shares were up 1.7% at 1,730p.