Lockheed Martin (LMT) PT Raised to $675 at RBC Capital

RBC Capital analyst Ken Herbert raised the price target on Lockheed Martin (NYSE: LMT) to $675.00 (from $600.00) while maintaining a Outperform rating.

The analyst comments "Lockheed Martin (LMT) remains the defense prime to own as global tensions are increasing. The $3B buyback authorization increase supports confidence in FCF upside, and defense stocks historically outperform in periods of monetary easing. We believe the 3Q24 results can also be a positive catalyst, as we believe investor confidence in MSD top-line growth is increasing (LMT also generates 26% of sales from international customers) and visibility on potential margin upside gains traction. We believe pre-funding the pension would also be positive for sentiment. We are maintaining our OP rating and increasing our PT to $675."

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