Analysts Bump Up Lockheed Martin Price Target After Solid Q4 Results

Analysts updated the price target for Lockheed Martin Corp LMT after it reported better than–expected Q4 results.

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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 AJRD deal, and a lower research amortization rule impact all combined for a “nice bounce” in the stock.
  • Related ContentAerojet Rocketdyne Stock Plummets As FTC Sues To Block Lockheed Martin Deal.
  • 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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