Lockheed Martin (LMT) PT Raised to $468 at Stifel Following EPS
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Stifel analyst Joseph DeNardi raised the price target on Lockheed Martin (NYSE: LMT) to $468.00 (from $415.00) while maintaining a Buy rating following earnings.
The analyst commented, "Lockheed reported 2Q21 EPS of $6.52 which was $0.04 ahead of our estimate and $0.01 below consensus. Results included a $0.61 charge at Aeronautics related to a classified program, which the company believes it has fully derisked. Excluding the charge, total segment margin would have been 11.7% led by stronger margins at LMT's remaining three segments. Further, total segment margin guidance for the year was maintained at 11%, despite the charge, led by an improved margin outlook at Space (+30bps vs. prior guidance), RMS (+50bps), and MFC (+40bps). The bearish view on the quarter would be an unusually large, negative charge in a part of the business that's fairly important to LMT's near/mid-term growth. The bullish view would be that the implied 2H21 margin is ~11.5% and the x-charge margin guidance improved by ~30bps which is unusually strong for 2Q."
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Analyst PT Change
Related EntitiesStifel, Earnings
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