Goldman Sachs raised the firm’s price target on Lockheed Martin (LMT) to $517 from $464 and keeps a Sell rating on the shares. Lockheed Martin is benefiting from a sharp increase in munitions demand, positioning the MFC segment for double-digit growth in the medium term, the analyst tells investors in a research note. However, growth uncertainty in the larger Aeronautics and RMS segments, alongside margin risk from evolving contract terms and headwinds to free cash flow from capex and pension dynamics, temper the overall outlook, Goldman adds.
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