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Every so often, a stock comes along that could soar and boost shareholder’s wealth massively. Is FTSE 250 incumbent QinetiQ (LSE: QQ.) one such stock?
Let’s take a closer look.
Defence business created by the defence department
Created in 20021 by the UK’s Ministry of Defence (MoD), the business tests and evaluates technology for military and civillian use. Back in 2003, it signed a 25-year deal with the MoD to provide its services. It also provides its services to other firms through its US-based Avantus business.
The shares have been doing well in the past 12 months. They’re up 27% from 349p at this time last year, to current levels of 444p.
I reckon a big part of this has to do with the increased number of conflicts globally at present.
To buy or not to buy?
As noted, the unfortunate events across the world have led to a spike in defence spending. I must…
