Morgan Stanley raised the firm’s price target on Lockheed Martin (LMT) to $630 from $530 and keeps an Overweight rating on the shares. Defense Primes are poised to report Q3 earnings amidst one of the longest government shutdowns in history, which does not make it easy for management teams to guide to 2026 with clarity, the analyst tells investors. However, the firm would be buyers of tepid Defense outlooks as upward revisions should materialize as the funding picture clears up, adds the analyst, whose Top Pick in Defense remains Northrop Grumman (NOC).
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