"In order to see a further re rating we believe the stock now needs a significant upgrade to estimates, which we view as unlikely in the near term," The shares fell 14½ to 580p. On a more positive tack, defence and aerospace company Cobham had another good day after Morgan Stanley took up coverage with an "overweight" rating and a 300p price target. Rupinder Vig, analyst at Morgan Stanley, said: "We believe [Cobham's] exposure to high tech communications, surveillance, cyber warfare and intelligence positions it extremely well to the changing priorities of the US Department of Defense – we encourage investors to build positions ahead of full year results."  
Share:  "In order to see a further re rating we believe the stock now needs a significant upgrade to estimates, which we view as unlikely in the near term," The shares fell 14½ to 580p. On a more positive tack, defence and aerospace company <span class="company">Cobham</span> had another good day after Morgan Stanley took up coverage with an "overweight" rating and a 300p price target. <span class="sent"> <span class="analyst">Rupinder Vig</span>, analyst at Morgan Stanley, said: "We believe [<span class="company">Cobham</span>'s] exposure to high tech communications, surveillance, cyber warfare and intelligence positions it extremely well to the changing priorities of the US Department of Defense – we encourage investors to build positions ahead of full year results." </span>...<span class="sent"><span class="analyst">Rupinder Vig</span>, analyst at Morgan Stanley, said: "We believe [<span class="company">Cobham</span>'s] exposure to high tech communications, surveillance, cyber warfare and intelligence positions it extremely well to the changing priorities of the US Department of Defense – we encourage investors to build positions ahead of full year results." </span> <span class="company">Cobham</span> gained 6.2 to 236.2p. Tweet this 

"In order to see a further re rating we believe the stock now needs a significant upgrade to estimates, which we view as unlikely in the near term," The shares fell 14½ to 580p. On a more positive tack, defence and aerospace company Cobham had another good day after Morgan Stanley took up coverage with an "overweight" rating and a 300p price target. Rupinder Vig, analyst at Morgan Stanley, said: "We believe [Cobham's] exposure to high tech communications, surveillance, cyber warfare and intelligence positions it extremely well to the changing priorities of the US Department of Defense – we encourage investors to build positions ahead of full year results."  
Share:  "In order to see a further re rating we believe the stock now needs a significant upgrade to estimates, which we view as unlikely in the near term," The shares fell 14½ to 580p. On a more positive tack, defence and aerospace company <span class="company">Cobham</span> had another good day after Morgan Stanley took up coverage with an "overweight" rating and a 300p price target. <span class="sent"> <span class="analyst">Rupinder Vig</span>, analyst at Morgan Stanley, said: "We believe [<span class="company">Cobham</span>'s] exposure to high tech communications, surveillance, cyber warfare and intelligence positions it extremely well to the changing priorities of the US Department of Defense – we encourage investors to build positions ahead of full year results." </span>...<span class="sent"><span class="analyst">Rupinder Vig</span>, analyst at Morgan Stanley, said: "We believe [<span class="company">Cobham</span>'s] exposure to high tech communications, surveillance, cyber warfare and intelligence positions it extremely well to the changing priorities of the US Department of Defense – we encourage investors to build positions ahead of full year results." </span> <span class="company">Cobham</span> gained 6.2 to 236.2p. Tweet this 

He added that a potential growth area for the group is the cyberspace defence market, or internet security, where the company is seeking to grow market share. MILITARY ROBUST Cobham said organic revenue growth was expected to be in the high single digits over the medium term, while the first half dividend was raised 10 percent to 1.48 pence a share. The company, which in its infancy pioneered in flight aircraft refuelling, said military and government work was helping to offset a slump in its commercial business. Military and government organic revenue was up 7 percent, while commercial fell 13 percent. "Sales were relatively weak underlying, but that was more than compensated for by better than expected margins," Evolution analyst Nick Cunningham said in a note.  
Share:  He added that a potential growth area for the group is the cyberspace defence market, or internet security, where the company is seeking to grow market share. MILITARY ROBUST <span class="company">Cobham</span> said organic revenue growth was expected to be in the high single digits over the medium term, while the first half dividend was raised 10 percent to 1.48 pence a share. The company, which in its infancy pioneered in flight aircraft refuelling, said military and government work was helping to offset a slump in its commercial business. Military and government organic revenue was up 7 percent, while commercial fell 13 percent. <span class="sent"> "Sales were relatively weak underlying, but that was more than compensated for by better than expected margins," Evolution analyst <span class="analyst">Nick Cunningham</span> said in a note. </span> Tweet this 

outperforming a 0.4 percent gain in the FTSE 100. Evolution analyst Nick Cunningham said that while Cobham was also exposed to the U.S missile defence programme through last year's $400 million acquisition of unlisted Sparta, the F 35 news would dominate. 'Rolls Royce and Ultra Electronics should also benefit as sentiment spreads across the board,' he said. 
Share:  outperforming a 0.4 percent gain in the FTSE 100. <span class="sent"> Evolution analyst <span class="analyst">Nick Cunningham</span> said that while <span class="company">Cobham</span> was also exposed to the U.S missile defence programme through last year's $400 million acquisition of unlisted Sparta, the F 35 news would dominate. </span> 'Rolls Royce and Ultra Electronics should also benefit as sentiment spreads across the board,' he said. Tweet this 

outperforming a 0.4 percent gain in the FTSE 100. Evolution analyst Nick Cunningham said that while Cobham was also exposed to the U.S missile defence programme through last year's $400 million acquisition of unlisted Sparta, the F 35 news would dominate. 'Rolls Royce and Ultra Electronics should also benefit as sentiment spreads across the board,' he said. 
Share:  outperforming a 0.4 percent gain in the FTSE 100. <span class="sent"> Evolution analyst <span class="analyst">Nick Cunningham</span> said that while <span class="company">Cobham</span> was also exposed to the U.S missile defence programme through last year's $400 million acquisition of unlisted Sparta, the F 35 news would dominate. </span> 'Rolls Royce and Ultra Electronics should also benefit as sentiment spreads across the board,' he said. Tweet this