• Wed. Jun 19th, 2024

Lockheed Martin Corp. (LMT) – Lockheed Martin Lags Defense Peers On Slower Top-Line Growth Outlook & Lack Of Catalysts, Says This Analyst

ByAkanksha Bakshi

Aug 30, 2022
Lockheed Martin Corp. (LMT) – Lockheed Martin Lags Defense Peers On Slower Top-Line Growth Outlook & Lack Of Catalysts, Says This Analyst

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  • RBC Capital analyst Ken Herbert initiated coverage on Lockheed Martin Corp LMT with a Sector Perform rating and a price target of $460, implying an upside of 7.9%.
  • The analyst mentions that as the largest defense contractor globally, LMT is often viewed as a proxy for the sentiment on the defense sector.
  • Herbert stated that the defense fundamentals have positively inflected. LMT will see LSD top-line growth due to a flat outlook for the F-35, timing of new program awards, and a maturing of its legacy portfolio.
  • New program wins could be positive catalysts, but stock reflects NGAD success, the analyst added.
  • Herbert believes that the current budget environment will support growth in the classified and existing programs of record.
  • Meanwhile, the analyst believes LMT will lag defense peers on a relative basis due to its slower top-line growth outlook and lack of near-term catalysts.
  • Price Action: LMT shares are trading lower by 0.77% at $426.35 on the last check Tuesday.

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Image and article originally from www.benzinga.com. Read the original article here.