Citi Maintains Buy Rating on Lockheed Martin
According to Citi, Lockheed Martin (NYSE: LMT) Buy rating is maintained.
Citi said that Japan elected to replace its aging McDonnell F-4Js with LMT's F-35 Joint Strike Fighter (JSF), representing the second nation (after Israel) beyond the original JSF coalition to commit to the platform. “In our mind, this was an important contest for LMT to win given some of the headline pressures the program faces at home and in Europe, although it was really LMT's to lose given Japan's stated desire to buy a stealth fighter (the country's previous attempt to buy F-22 were rebuffed due to US concerns over exporting classified technology).”
Lockheed Martin closed yesterday at $76.82.
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