RBC Capital raised the firm’s price target on Lockheed Martin (LMT) to $650 from $615 and keeps a Sector Perform rating on the shares. The company delivered a slight beat on revenue and segment EBIT, but the highlights were the 2026 pension refunding, Q4 free cash flow, and above-consensus 2026 outlook, the analyst tells investors in a research note. The management was hesitant to comment on capital allocation updates, but the capex outlook has stepped up materially, RBC added.
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