The document is a financial analysis by Deutsche Bank on BAE Systems, highlighting a potential 63% total shareholder return (TSR) by 2020. It discusses the company's forecasted free cash flow (FCF) of £1.35bn in 2020, EBIT growth, and cash conversion improvements. The analysis also compares BAE's valuation to its EU and US peers, noting a discount. Key growth areas include US Combat Vehicles, Ship Repair, Electronic Systems, and Cyber. Risks include government changes affecting maritime profitability.
doj/DataSet10/EFTA01385521.pdf
{"title":"Deutsche Bank Research European Equity Focus","key_people":["Jaime Rowbotham"],"document_date":"January 2018","document_type":"other","key_locations":["UK","US"],"document_subtype":"financial analysis","key_organizations":["Deutsche Bank","BAE Systems","MBDA"]}