Lockheed Martin (LMT): Favorable Data Points - Cowen

Cowen analyst, Cai von Rumohr, raised his price target to $310 from $295 and reiterated his Market Perform rating on shares of Lockheed Martin (NYSE: LMT) after coming across somewhat favorable fundamental data points.

The indicated $28B in Saudi orders includes a bevy of programs such as THAAD/Pac-3 ($9-10B), up to eight upsized LCS vessels ($4-5B), helicopters ($3-4B), 23 C-130J's, satellites, Aerosondes, and training/sustainment but are being delayed by the State Department pending resolution in GECC disputes with Qatar. The analyst believes that the initial awards are unlikely until mid-2018.

However, given the escalating North Korean missile threat, Japan appears increasingly interested in acquiring THAAD and/or Aegis Ashore with an order possible next year.

For an analyst ratings summary and ratings history on Lockheed Martin click here. For more ratings news on Lockheed Martin click here.

Shares of Lockheed Martin closed at $300.20 yesterday.

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