- Wells Fargo analyst Matthew Akers raised the price target for Lockheed Martin Corp (NYSE:LMT) to $496 (an upside of 9%) from $486 while maintaining the Equal-Weight rating on the shares.
- The analyst stated that most of LMT's Q1 beat vs. the firm's model was driven by lower tax/interest, while operations were slightly ahead, including a large positive adjustment at MFC.
- Akers adds that the lack of guidance raise was disappointing given the beat. However, this sets up LMT for what appears to be fairly easy beats/raises later in the year, which along with improving long-term growth prospects, should be enough to keep interest in the stock high in the current uncertain macro backdrop.
- Related: Lockheed Martin Shares Fall After Q1 Revenue Miss
- Argus analyst John Eade raised the price target on LMT to $500 from $415 and maintained the Buy rating on the shares.
- The analyst states that the company has consistently delivered positive surprises in recent years, irrespective of defense spending and who occupies the White House.
- Eade lauds the company's focus on international revenue diversification and expects the ongoing geopolitical tension to aid Lockheed Martin's sales and earnings going forward.
- Price Action: LMT shares are trading lower by 1.19% at $454.45 on the last check Wednesday.
