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UBS analyst Myles Walton raised the price target to $425 (an upside of 8.7%) from $410 and kept a Buy rating on the shares.
The analyst says the company's Q4 results were "solid," reversing the softer Q3 print.
Walton adds that Lockheed's better-than-expected Q4 free cash flow, lack of additional negatives, forward-leaning posture on capital return, the unfavorable FTC decision on the Aerojet Rocketdyne Holdings Inc (NYSE: AJRD) deal, and a lower research amortization rule impact all combined for a "nice bounce" in the stock.
Baird analyst Peter Arment increased the price target to $425 from $376 and maintained a Neutral rating on the shares.
The analyst sees a healthy buyback activity limiting the downside in the shares near-term coupled with an attractive valuation vs. peers and the overall market.
Susquehanna analyst Charles Minervino raised the price target to $445 (an upside of 13.7%) from $400 and maintained a Positive rating on the shares.
Minervino says the company reported a solid set of quarterly results to cap off 2021 and enters the new year against the backdrop of a modestly better than expected outlook for U.S. defense spending in fiscal 2022.
The analyst expects them to generate strong cash flows and maintain an attractive capital return policy, looking past near-term headwinds and towards longer-term growth.
Wells Fargo analyst Matthew Akers raised the price target to $400 (an upside of 2.3%) from $379 and kept an Equal-Weight rating on the shares.
Morgan Stanley increased the price target to $450 (an upside of 15%) from $430 and maintained an Overweight rating on the shares.
Price Action: LMT shares are trading higher by 1.07% at $391.33 on the last check Wednesday.
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