UPDATE: Jefferies Reiterates Hold Rating, Raises PT on Lockheed Martin Corporation

In a report published Friday, Jefferies reiterated its Hold rating on Lockheed Martin Corporation LMT, and raised its price target from $88.00 to $95.00. Jefferies noted, “LMT reported Q4:12 EPS of $1.73 vs. $2.14 a year ago and our estimate of $1.79. Excluding one time items Adjusted EPS were $1.98. During the quarter LMT made a $2.5BB discretionary pension contribution, which we believe is a thoughtful use of capital to reduce longterm costs. We are raising our 2013 EPS to $9.00 from $8.30.” Lockheed Martin Corporation closed on Thursday at $93.25.