UPDATE: Deutsche Bank Raises Target to $80 on Lockheed Martin

Deutsche Bank reiterates its Hold price on Lockheed Martin (NYSE: LMT) and raises its price target up $5 to $80 a share on better margins for 4Q and in-line guidance onward.

Deutsche Bank says, "LMT reported 4Q EPS of $2.14, better than our/Street of $2.02/1.95. Sales were in- line (12.2B, +0.5% y/y), with the beat being account for by better segment op margin. '12 sales guided to be down 2%, just below where consensus is, with EPS guidance of $7.70-7.90, vs. our est. of $7.96 and cons of $7.78. Overall the Q was a strong one for LMT, with the co. exhibiting solid margin perf. in a down sales environment."

LMT closed at $82.47 a share on Thursday.