Lockheed Martin price target raised to $663 from $580 at UBS

UBS raised the firm’s price target on Lockheed Martin (LMT) to $663 from $580 and keeps a Neutral rating on the shares. Lockheed Martin’s growth is expected to accelerate in 2026 and 2027, supported by Department of War framework deals in Missiles and Fire Control that improve visibility and returns, with MFC modeled at a 16% compound annual growth rate through decade-end, the analyst tells investors in a research note. While cash flow outlook has improved enough to absorb higher capex, pension over-earning limits reported free cash flow growth until 2029, leaving the longer-term investment case dependent on sustained budget and growth visibility, UBS says.