Morgan Stanley Upgrades Lockheed Martin to Overweight Following F-35 Production Deal
Morgan Stanley has upgraded Lockheed Martin (LMT) from equal weight to overweight, significantly raising its price target from $690 to $835. This upgrade follows the company's announcement of a 10-year framework agreement with the U.S. Department of Defense regarding F-35 Lightning II stealth fighter production. Analyst Kristine Liwag noted that this long-term deal significantly de-risks the stock by addressing previous concerns that F-35 costs might cannibalize missile expansion budgets. Additionally, Lockheed's third-quarter earnings beat expectations, and a ramp in munitions production is expected to drive mid-teens growth in the missiles and fire control segment.
Topics: Defense Contracting Earnings Report F-35 Production Stock Upgrades
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