Market Overview

UPDATE: Citigroup Reiterates Buy Rating, Lowers PT on Lockheed Martin Corporation

Share:
Related LMT
Army Fights For Ground In Cyberwar; When Will Twitter, Facebook Enlist?
Lockheed Martin Wins $584M Deal For Littoral Combat Ship

In a report published Wednesday, Citigroup reiterated its Buy rating on Lockheed Martin Corporation (NYSE: LMT), but lowered its price target from $108.00 to $106.00.

Citigroup noted, “In our view, LMT can continue to perform due to demand for F-35s, C-130s, re-worked C-5s, attractive BMD technologies, and a strong cash position providing for shareholder friendly activities (dvd yields ~5%), with the company sticking by its goal of returning > 50% of operating cash flow to shareholders (has been closer to 70 – 80% over the past three years). We further believe that the F-35 is the fighter of choice for the US military, and that even if the program were halved (to ~1,500), it would still be worth at least 7.5 years of production at peak rates, with potential upside from international sales.”

Lockheed Martin Corporation closed on Tuesday at $92.96.

Latest Ratings for LMT

DateFirmActionFromTo
Oct 2017BuckinghamMaintainsBuy
Aug 2017Morgan StanleyInitiates Coverage OnOverweight
Jan 2017RBC CapitalInitiates Coverage OnSector Perform

View More Analyst Ratings for LMT
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Price Target Analyst Ratings

 

Related Articles (LMT)

View Comments and Join the Discussion!
Loading...

Partner Center

Loading...