Deutsche Bank Upgrades Lockheed Martin (LMT) to Buy
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Deutsche Bank upgraded Lockheed Martin (NYSE: LMT) from Hold to Buy. Analyst Myles Walton thinks a best scenario for defense stocks could play out.
"Given the election outcome, we’ve upgraded shares of LMT to Buy from Hold on DD upside to our existing price target coupled with the recent pullback in the name on F-35 contractual issues that we see as overblown. Among the large-cap defense names, LMT carries the most attractive cash flow yield of 6% among larger cap defense names and an EPS CAGR in the mid-teens through 2020," said Walton.
Shares of Lockheed Martin closed at $239.19 yesterday.
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