Truist raised the firm’s price target on Lockheed Martin (LMT) to $695 from $605 and keeps a Buy rating on the shares after its Q4 earnings beat. Backlog is at a record level and based on broad based global demand strength, backlog should grow in 2026, the analyst tells investors in a research note. The stock remains the firm’s preferred large cap defense play, and Truist sees incremental opportunities stemming from Golden Dome.
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