A few years into a surge of spending, Lockheed Martin remains Wall Street’s favorite prime defense contractor to benefit from the Pentagon’s hypersonics drive. But at No. 2, Raytheon could be a better investment, a new report says. “Despite Lockheed’s early lead, Raytheon may be the more attractive way to play the sector,” Cowen and Co. analysts said Aug. 6. “Because Northrop Grumman plans a supportive role in offensive hypersonics, Raytheon likely will ...

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