Wells Fargo analyst David Strauss initiated coverage of Lockheed Martin (LMT) with an Equal Weight rating and $650 price target The firm sees slower growth and weaker free cash flow for the company relative to its peers, the analyst tells investors in a research note. Lockheed’s margin remains at risk on its problematic fixed-price programs, while its free cash flow will remain pressured by cash burn on these programs, Wells Fargo added.
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