Baird analyst Peter Arment upgraded Lockheed Martin (LMT) to Outperform from Neutral with an unchanged price target of $540. The company reported a strong Q1 print, accompanied by management’s bullish tone across segments, led by an “insatiable global demand” for missile and missile defense platforms, the analyst tells investors in a research note. The firm says the “negative watch items” entering Q1, namely F-35 headline risk, the Department of Government Efficiency and Missiles and Fire Control charges appear to carry little downside risk for 2025.
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